Hogs Post Strength on Wednesday
Lean hog futures posted gains of 15 cents to $1.20 in most nearbys on Wednesday, with some deferreds steady to a quarter lower. The national average base hog price was reported at $77.25 on Wednesday afternoon, down $1.09 from the day prior. The CME Lean Hog Index was $85.56 on September 9, down 18 cents from the day prior.
USDA’s FOB plant pork cutout value was $1.89 lower in the Wednesday PM report at $92.91 per cwt. The belly was the only primal reported higher. USDA estimated FI hog slaughter at 483,000 head, with the weekly total at 1.453 million head. That is well above the previous non-holiday week and 28,883 head larger than the same week last year.
Oct 24 Hogs closed at $79.750, up $1.200,
Dec 24 Hogs closed at $72.300, up $1.150
Feb 25 Hogs closed at $75.825, up $0.775,
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.