Hogs Rally on Wednesday
Lean hog futures are up 25 cents in the August contracts on Wednesday as it gets set to expire. Other contracts are up $2.27 to $2.95 on the day. The national average base hog price was up 28 cents at $83.52 on Wednesday. The CME Lean Hog Index was $90.34 on August 9, down 58 cents from the previous day.
USDA’s FOB plant pork cutout value was up 53 cents in the Wednesday morning report at $100.86 per cwt. The belly primal led the way, up $5.26, with the picnic up $1.59. USDA estimated the Tuesday FI hog slaughter at 482,000 head, matching both last Tuesday and the same Tuesday a year ago. The week to date total is 17,000 above year ago.
Aug 24 Hogs are at $90.150, up $0.250,
Oct 24 Hogs are at $75.800, up $2.950
Dec 24 Hogs is at $67.025, up $2.275,
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.
