Hogs Face Continued Weakness on Wednesday, with Pork Collapse Continuing
Lean hog futures saw losses of 10 cents to $1.95 on the day, with a couple deferreds up 5 to 12 cents. October expired down a nickel. USDA’s national base hog price was reported at $69.14 on Wednesday afternoon, down $1.12 from the day prior. The CME Lean Hog Index was down another 57 cents on October 12 at $75.94.
USDA’s pork carcass cutout value was back down $1.23 in the Wednesday PM report, at $79.45. The picnic, rib, and belly, were lower, led by the latter, down $11. Federally inspected hog slaughter for Wednesday was estimated at 497,000 head, with the weekly total at 1.478 million head. That was 4,000 head below last week and 11,730 head larger than the same week last year.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
Oct 26 Hogs closed at $75.550, down $0.050,
Dec 26 Hogs closed at $66.075, down $1.950
Feb 27 Hogs closed at $67.850, down $1.750,
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.
