Lean hog futures closed the Wednesday trade with contracts up 65 cents to $2 in the nearbys and back months 35 cents lower to 25 cents higher. Open interest was down 7,303 contracts, suggesting some shorts were leaving. USDA’s national base hog price was reported at $94.64 on Wednesday afternoon. The CME Lean Hog Index was down 18 cents on May 22 at $90.70.
USDA’s pork carcass cutout value from the Wednesday PM report was down 50 cents at $98.35 per cwt. The belly and ham primals were the only reported higher. USDA estimated federally inspected hog slaughter for Wednesday at 475,000 head, with the weekly total at 944,000 head. That is down 17,069 head from the same holiday week last year.
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Jun 26 Hogs closed at $97.600, up $1.475,
Jul 26 Hogs closed at $102.125, up $2.000
Aug 26 Hogs closed at $100.850, up $1.800,
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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