Hog Futures Weakening on Tuesday

Front month lean hog futures are down 2 cents to $1, with October down the most. USDA’s National Average Base Hog price was withheld to protect confidentiality this morning, but was shown at $84.62 in the Tuesday PM report. CME’s Lean Hog Index was another $1.22 lower on 8/24 at $96.40.  

Pork cutout futures also closed stronger on the first day out of the weekend $0.47 to $2 higher. USDA’s National Pork Carcass Cutout Value was down by $1.29 in the AM report to $94.76. USDA estimated Monday’s FI hog slaughter at 476k head, 5k more than last week but 6k head under the same week last year.  

Oct 23 Hogs  closed at $80.700, down $1.150,

Dec 23 Hogs  closed at $72.825, down $0.600

Oct 23 Pork Cutout  closed at $92.775, down $0.325,

On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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