Hogs Rally into Wednesday Close
Hogs were up 17 cents to $3.35 in the front months on the Wednesday Trade, with other contracts for 2024 down 2 to 55 cents. USDA’s National Average Base Hog price was 2 cents firmer in the PM update, now listed at $68.21. The WCB quote was $68.49 compared to $65.12 in the ECB on Wednesday. The CME Lean Hog Index back another 41 cents higher on 2/12 to $74.11.
USDA’s National Pork Carcass Cutout Value was $1.25 lower in the PM report to $85.91. The hams had dropped by another $5.41 to $72.05. Federally Inspected hog slaughter was estimated at 489,000 head for Wednesday, bringing the weekly total to 1.466 million head. That is even with last week and is 25,830 head higher vs the same week last year.
April 24 Hogs closed at $84.525, up $3.45,
May 24 Hogs closed at $88.50, up $2.525
April 24 Pork Cutout closed at $91.425, up $2.675,
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.
