Hogs Continue Firmer Action on Wednesday
Lean hog futures are extending the bounce to Wednesday’s midday, with contracts up 22 to 50 cents. USDA’s national base hog price was reported at $90.39 on Wednesday morning, up 75 cents from the day prior. The CME Lean Hog Index was down another 28 cents on August 31 at $90.58.
USDA’s pork carcass cutout value was back $1.79 in the Tuesday AM report, at $96.11. The loin and picnic were the only primals reported higher. USDA estimated federally inspected hog slaughter for Tuesday at 476,000 head, with the week to date total at 940,000 head. That is 1,000 head above the previous week.
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Oct 26 Hogs closed at $83.875, up $0.225,
Dec 26 Hogs closed at $74.300, up $0.300
Feb 27 Hogs closed at $76.700, up $0.425,
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.
