Hogs Face Wednesday Weakness
Lean hog futures were busy pulling back on Wednesday, with contracts 5 cents to $1.15 lower at the close. USDA’s national base hog price was reported at $96.92 on Wednesday afternoon, down 66 cents from the day prior. The CME Lean Hog Index was 17 cents lower on June 29 at $91.24.
USDA’s pork carcass cutout value was 22 cents higher in the Wednesday PM report at $95.71. The loin, rib, and belly were the primals reported higher. USDA estimated federally inspected hog slaughter for Wednesday at 474,000 head, with the week to date total at 1.392 million head. That was 16,000 head below the week prior and 18,964 head below the same week last year.
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Jul 26 Hogs closed at $93.350, down $0.975,
Aug 26 Hogs closed at $97.050, down $1.150
Oct 26 Hogs closed at $81.500, down $0.500,
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.
