Hog Continue to Grind Lower on Wednesday
Lean hogs posted losses of 20 cents to $1.20 on the Wednesday session. USDA’s National Average Base Hog negotiated price was reported at $87.83 on Wednesday afternoon, down 37 cents from day prior. The CME Lean Hog Index was down 21 cents on May 20 at $92.01
USDA’s National Pork Carcass Cutout Value was down another 62 cents in the Wednesday PM print at $100.07. Just the loin and belly were reported higher, with the rib down 8.26 to lead the downside movement. USDA estimated Wednesday’s federally inspected hog slaughter at 484,000 head, with the WTD total at 1.432 million head. That is up 11,000 head from the week prior and 14,068 head above the same week last year.
Jun 24 Hogs closed at $95.400, down $1.000,
Jul 24 Hogs closed at $98.125, down $1.200
Aug 24 Hogs closed at $97.550, down $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.