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Hogs Look to Tuesday After Lower Start to the Week
Lean hogs settled the Monday session with contracts steady to 77 cents lower. USDA’s National Average Base Hog negotiated price was up $3.03 in the Monday afternoon report at $92.41. The CME Lean Hog Index was up another 4 cents on May 2 at $90.96. USDA’s National Pork Carcass Cutout Value was up $1.38 in the Friday PM report to $99.50. The butt was down $1.99 and the ham was 39 cents lower, as the belly (+$4.01) led all other primals higher. USDA estimated federally inspected hog slaughter for Monday at 481,000 head. That is 5,000 head above last week and up 9,570 head from the same Monday last year. May 24 Hogs closed at $92.175, down $0.250, Jun 24 Hogs closed at $98.175, down $0.775 Jul 24 Hogs closed at $102.150, down $0.700, 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. |
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