Hogs Heading Lower at Midday
Lean hog futures are trading with losses of 30 cents to $1.40 at midday. USDA’s national average base hog negotiated price was reported at $84.45 on Tuesday morning, up $1.46 from the previous day. The CME Lean Hog Index was down another 29 cents from the previous day at $89.71 on March 7.
The USDA’s WASDE showed projected 2025 pork production at 28.425 billion lbs, down 105 million lbs from last month on a lower quarter 1 output.
USDA’s FOB plant pork cutout was 80 cents higher in the Tuesday morning report at $99.02 per cwt. The loin and butt were the primals reported lower. USDA estimated the Monday Federally inspected hog slaughter at 487,000 head. That is 2,000 head above last Monday and 29,835 head larger than the same week last year.
Apr 25 Hogs are at $86.900, down $1.400,
May 25 Hogs are at $90.550, down $0.925
Jun 25 Hogs is at $98.525, down $0.300,
On the date of publication, Austin Schroeder 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.