Hogs Push Rally on Wednesday
Lean hog futures ended the midweek session with some triple digit gains of as much as $1.97. The entirety of the complex was $0.35 to $1.97 higher in the front months. USDA’s National Average Morning Base Hog price Wednesday was 76 cents higher to $79.27. The 9/18 CME Lean Hog Index dropped by another 23 cents to $86.58.
Pork cutout futures ended the day $0.67 to $1.70 higher. USDA’s National Pork Carcass Cutout Value for Wednesday was $1.91 weaker to $99.22. USDA estimated FI hog slaughter for the week at 1.454m head. That is down 4k head from the same week last year through Wednesday.
Oct 23 Hogs closed at $85.775, up $0.925,
Dec 23 Hogs closed at $78.225, up $1.975
Oct 23 Pork Cutout closed at $96.550, up $0.675,
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.
