Hogs Posting Mixed trade on Thursday
Lean hog futures are down a tick to a dime on Thursday, with deferred contracts higher. USDA’s national average base hog negotiated price was reported at $99.27 on Thursday morning, a $2.86 increase from the day prior. The CME Lean Hog Index was up another 47 cents on May 27, at $93.52.
Late on Wednesday, a Federal trade court ruled that President Trump’s liberation day tariffs were illegal, and he has exceeded his authority. The court gave the President 10 days to complete a process of halting the tariffs, while the white house is appealing the ruling.
USDA’s FOB plant pork cutout value from the Thursday AM report was $104.35, back up $1.95. The picnic, ham, and belly were the primals reported higher. Federally inspected hog slaughter for Wednesday was estimated at 490,000 head by the USDA, taking the weekly total to 970,000. That is up 7,188 head from the same holiday week last year.
Jun 25 Hogs are at $100.200, down $0.075,
Jul 25 Hogs are at $103.200, down $0.100
Aug 25 Hogs is at $103.500, down $0.025,
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.