Hogs Correct Back Lower on Wednesday
Lean hog futures fell back from the Tuesday gains, as futures posted wobble Wednesday losses of 35 cents to $1.17. USDA’s national base hog price was reported at $87.25 on Wednesday afternoon, up 90 cents from the day prior. The CME Lean Hog Index was back down 89 cents on September 4 at $89.65.
USDA’s pork carcass cutout value was back up $1.81 in the Wednesday PM report, at $93.63. The loin, butt, picnic, and rib were all reported lower, with the belly back up $13.93. USDA estimated federally inspected hog slaughter for Wednesday at 492,000 head. That took the week to date totak to 971,000 head, well shy of the same week last year due to Monday’s holiday.
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Oct 26 Hogs closed at $83.075, down $1.175,
Dec 26 Hogs closed at $74.600, down $0.450
Feb 27 Hogs closed at $76.975, 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.
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