Hogs Look to Thursday Trade
Lean hog futures slipped lower into the Wednesday close, as contracts were 25 to 87 cents lower. Preliminary open interest rose just 381 contracts. USDA’s national base hog price from Wednesday afternoon was reported at $88.16, down $1.36 from the day prior. The CME Lean Hog Index was down another 60 cents on October 20 at $94.98.
USDA’s pork carcass cutout value from the Wednesday afternoon report was back down 84 cents to $99.75 per cwt. The picnic, ham, and rib were the primals reported lower. USDA estimated federally inspected hog slaughter on Wednesday at 493,000 head, with the weekly total at 1.472 million head. That is up 4,000 head from last week and 16,864 head above the same week last year.
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Dec 25 Hogs closed at $82.400, down $0.875,
Feb 26 Hogs closed at $85.225, down $0.525
Apr 26 Hogs closed at $89.750, down $0.250,
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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