Hogs Post Mixed Trade on Wednesday
Lean hogs settled the Wednesday session on a mixed note, as front months were down 5 to 82 cents, with the other 24 contracts steady to 27 cents higher. USDA’s National Average Base Hog negotiated price was down $2.10 on Wednesday afternoon at 88.73. The CME Lean Hog Index was back up 7 cents on May 13 at $91.29.
USDA’s National Pork Carcass Cutout Value was back up 19 cents in the Wednesday PM report at $101.70. The belly, loin, and butt primals were in a range of 29 cents to $2.05 higher, with the rest of the primals reported lower. USDA estimated Wednesday’s federally inspected hog slaughter at 480,000 head, taking the week to date total to 1.421 million head. That is 15,000 head below last week but 18,978 head above the same week last year.
Jun 24 Hogs closed at $97.500, down $0.825,
Jul 24 Hogs closed at $100.875, down $0.050
Aug 24 Hogs closed at $100.025, up $0.125,
On the date of publication, Alan Brugler 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.
