Hogs See Front Month Strength Led Higher with Support from the Pork Cutout
Lean hogs closed out the Monday session with contracts up 80 cents to $1.42. The USDA National Base Hog price was reported at $84.04 on Monday afternoon, up $1.62 from the day prior. The CME Lean Hog Index was $89.71 on July 18, up 44 cents from the previous day.
USDA reported the Monday PM Pork Cutout Value $2.36 higher at $104.52. The loin and rib primals were reported lower, with the ham and belly leading the upward charge. USDA estimated this Monday’s FI hog slaughter at 459,000 head, down from the 478,000 head last week and just 967 head below the same Monday last year.
Aug 24 Hogs closed at $92.375, up $0.800,
Oct 24 Hogs closed at $75.975, up $1.425
Dec 24 Hogs closed at $67.950, up $1.025,
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.