Hogs Continuing Higher Movement on Wednesday
Lean hog futures are trading with 72 to 92 cent gains across most contracts. USDA’s national base hog price was reported at $109.00 in the Wednesday AM report, down 6 cents from the day prior. The CME Lean Hog Index was down 41 cents on August 25 at $106.86.
USDA’s FOB plant pork cutout report from Wednesday morning was down $1.09 at $111.96 per cwt. The picnic and rib primals were the only reported higher. USDA estimated hog slaughter for Tuesday at 480,000 head, taking the weekly total to 935,000 head. That was 23,000 head below last week and down 17,558 head from the same week last year.
Oct 25 Hogs are at $94.350, up $0.925,
Dec 25 Hogs are at $86.875, up $0.950
Feb 26 Hogs is at $88.850, up $0.725,
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.