Hogs Continuing Slide on Wednesday
Lean hog futures are trading with 25 to 67 cent losses at midday, as Dec is up 50 cents ahead of expiration on Friday. The national average base hog negotiated price was reported at $82.43 on Wednesday morning, which was up $1.85 from the day prior. The CME Lean Hog Index was reported at $83.33 on December 9, down 13 cents from the previous day.
USDA’s FOB plant pork cutout value reported lower on Wednesday AM, down 65 cents at $92.49 per cwt. The ham, loin, and belly were all reported lower. USDA estimated the Tuesday FI hog slaughter at 488,000 head, bringing the weekly total to 977,000 head. That was 1,000 head above last week and up 38,902 head from the same week last year.
Dec 24 Hogs are at $83.425, up $0.500,
Feb 25 Hogs are at $84.325, down $0.250
Apr 25 Hogs is at $88.225, down $0.675,
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. More news from Barchart