Significant rise on Tuesday's turnaround
On Tuesday, the price of lean hogs rose a tick to 40 cents. The only exception was December, when it was 10 cents lower. In this afternoon's report, the USDA national average basic hog negotiated price increased $3.33 to $86.04. On April 12, the CME Leanhog Index rose another 17 cents to $90.73.
USDA national pork carcass cutout prices fell significantly in Tuesday's PM report, dropping $4.05 to $99.55. Belly meat had the highest rate of decline, dropping $22.78, while ham was the only other cut reported to drop $3.25. The USDA estimated the number of federally inspected hogs slaughtered on Tuesday at 486,000, bringing the weekly total to 968,000. This is 29,000 more head than last week and an increase of 20,067 head from the same week last year.
May 24th Pig It closed at $94.725, up $0.400.
June 24th Pig It closed at $102.825, up $0.375.
July 24th Pig It closed at $104.025, up $0.275.
On the date of publication, Alan Brugler I had no position (directly or indirectly) in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. Please see the Barchart Disclosure Policy for more information. here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Summarize this content to 100 words
On Tuesday, the price of lean hogs rose a tick to 40 cents. The only exception was December, when it was 10 cents lower. In this afternoon's report, the USDA national average basic hog negotiated price increased $3.33 to $86.04. On April 12, the CME Leanhog Index rose another 17 cents to $90.73. USDA national pork carcass cutout prices fell significantly in Tuesday's PM report, dropping $4.05 to $99.55. Belly meat had the highest rate of decline, dropping $22.78, while ham was the only other cut reported to drop $3.25. The USDA estimated the number of federally inspected hogs slaughtered on Tuesday at 486,000, bringing the weekly total to 968,000. This is 29,000 more head than last week and an increase of 20,067 head from the same week last year.
May 24th Pig It closed at $94.725, up $0.400.June 24th Pig It closed at $102.825, up $0.375.
July 24th Pig It closed at $104.025, up $0.275.On the date of publication, Alan Brugler I had no position (directly or indirectly) in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. Please see the Barchart Disclosure Policy for more information. here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
https://www.nasdaq.com/articles/hogs-higher-on-turnaround-tuesday Significant rise on Tuesday's turnaround
