Lean hog futures extended the bounce back on Thursday, with gains of 55 to 90 cents. Open interest was down 14,236 contracts on Thursday, mainly in the February as it settled on the 18th. USDA’s national base hog price was reported at $91.04 on Thursday afternoon, up $2.70 from the day prior. The CME Lean Hog Index was 6 cents higher on Feb 17 at $87.19.
USDA’s pork carcass cutout value from the Thursday PM report was 72 cents higher at $96.28 per cwt. The picnic and belly primals were the only reported lower. USDA estimated federally inspected hog slaughter for Thursday at 491,000 head, taking this week’s total to 1.918 million head. That was 4,000 head below last week but 5,161 head shy of the same week last year.
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Apr 26 Hogs closed at $93.450, up $0.900,
May 26 Hogs closed at $97.750, up $0.750
Jun 26 Hogs closed at $107.175, up $0.575,
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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