Hogs Posting Midday Weakness
Lean hog futures are showing Wednesday losses of 10 to 60 cents in the front months at midday. USDA’s national base hog price was not reported on Wednesday morning due to thin trade. The CME Lean Hog Index was down 29 cents on November 6 at $59.99.
USDA’s pork carcass cutout value was down 23 cents in the Wednesday AM report, at $69.75. The rib, ham, and belly were the primals reported lower. Federally inspected hog slaughter Tuesday was estimated at 495,000 head, taking the weekly total to 991,000 head. That was 13,000 head above last week and 43,029 head larger than the same week last year.
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Dec 26 Hogs are at $55.700, down $0.100,
Feb 27 Hogs are at $60.150, down $0.600
Apr 27 Hogs are at $66.475, down $0.425,
On the date of publication, Austin Schroeder did not directly have a position 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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