Hog Futures Face Modest Weakness on Thursday
Lean hog futures saw losses of 7 to 60 cents across most contracts on Thursday, with nearby October up 7 cents. USDA’s national base hog price was reported at $86.86 on Thursday afternoon, down 39 cents from the day prior. The CME Lean Hog Index was down another 86 cents on September 8 at $88.79.
USDA’s pork carcass cutout value was back down $1.82 in the Thursday PM report, at $91.81. The butt, rib, and belly were the primals reported lower, with the latter down $11.79. USDA estimated federally inspected hog slaughter for Thursday at 493,000 head. That took the week to date total to 1.458 head, well shy of the same week last year due to Monday’s holiday.
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Oct 26 Hogs closed at $83.150, up $0.075,
Dec 26 Hogs closed at $74.350, down $0.250
Feb 27 Hogs closed at $76.825, down $0.150,
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.
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