Hogs Get a Midweek Bounce
Lean hog futures closed out the Wednesday session with contracts up 40 to 50 cents and August down 22 cents. USDA’s national base hog price was up $1.20 from the previous day, at $113.34 this afternoon. The CME Lean Hog Index was up 11 cents at $110.41 on July 28.
USDA’s Wednesday afternoon FOB plant pork cutout value was 15 cents higher at $116.00 per cwt. The rib, butt, and ham primals were reported lower. USDA estimated hog slaughter at 478,000 head for Wednesday, with the week to date total at 1.388 million head after a revised (8,000 head higher) Tuesday total. That was 8,000 head below last week and down 39,349 head from the same week last year.
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Aug 25 Hogs closed at $107.025, down $0.225,
Oct 25 Hogs closed at $89.200, up $0.475
Dec 25 Hogs closed at $81.200, up $0.400,
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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