Hogs Face Weakness on Wednesday
Lean hog futures slipped lower into the Wednesday close, with contracts 15 to 67 cents lower, as October was up 60 points. USDA’s national base hog price was $79.65 in the Wednesday PM report, down 25 cents from the day prior. The CME Lean Hog Index was down another 50 cents on September 21 at $82.92.
USDA’s pork carcass cutout value was back down $1.17 in the Wednesday afternoon report, at $86.82. All primals were reported lower. Federally inspected hog slaughter for Wednesday was estimated at 486,000 head, with the weekly total at 1.433 million head. That was 25,000 head below last week on a revision to Tuesday, and 16,080 head shy of the same week last year.
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Oct 26 Hogs closed at $79.875, up $0.600,
Dec 26 Hogs closed at $70.325, down $0.675
Feb 27 Hogs closed at $72.025, down $0.525,
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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