Hogs Look to Thursday After Weaker Midweek Session
Lean hog futures posted Wednesday losses of 22 cents to $1.32 across the board. Open interest was down 1,628 contracts on Wednesday. USDA’s national base hog price was reported at $99.01 on Wednesday afternoon, down 64 cents from the day prior. The CME Lean Hog Index was down 51 cents on August 3 at $97.17.
USDA’s pork carcass cutout value was back up $1.22 in the Wednesday PM report, at $101.05. The picnic and rib primals were the only reported lower. USDA estimated federally inspected hog slaughter for Wednesday at 484,000 head, taking the weekly total to 1.38 million head. That is 27,000 head above the previous week and 3,354 head above the same week last year.
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Aug 26 Hogs closed at $96.600, down $1.250,
Oct 26 Hogs closed at $83.025, down $1.325
Dec 26 Hogs closed at $74.650, down $1.125,
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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