Hogs Fade Lower on Wednesday
Lean hog futures saw weakness on Wednesday, with contracts 7 to 65 cents lower across the board. USDA’s national base hog price was tallied at $77.72 in the Wednesday PM report, down $1.02 from the day prior. The CME Lean Hog Index was down another 27 cents on September 28 at $80.94.
USDA’s pork carcass cutout value fell $2.82 in the Wednesday afternoon report, at $84.95. All primals were reported lower. Federally inspected hog slaughter for Wednesday was estimated at 486,000 head, with the weekly total at 1.463 million head. That was 30,000 head above last week and 14,793 head larger than the same week last year.
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Oct 26 Hogs closed at $78.725, down $0.650,
Dec 26 Hogs closed at $69.425, down $0.275
Feb 27 Hogs closed at $70.175, down $0.450,
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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