Hogs Slip Back on Thursday
Lean hog futures closed out the Thursday session with losses of 52 to 87 cents across the front months. The national average base hog price was reported at 77.84 on Thursday afternoon, down 83 cents from the day prior. The CME Lean Hog Index was $86.27 on September 3 up 12 cents from the day prior.
USDA’s FOB plant pork cutout value was down 42 cents in the Thursday PM report at $94.87 per cwt. The ham and belly were the only reported lower, but down $5.39 and $1.35, respectively. USDA estimated the Thursday FI hog slaughter at 485,000 head, with the week to date total at 1.456 million head. That is well below the previous non-holiday week but 36,681 head larger than the same week last year.
Oct 24 Hogs closed at $80.700, down $0.875,
Dec 24 Hogs closed at $72.050, down $0.650
Feb 25 Hogs closed at $75.250, down $0.525,
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.