Hogs Rally on Wednesday
Lean hog futures posted gains of $1.05 to $2.35 across most contracts on Wednesday, with July up 7 cents on expiration. USDA’s national base hog price was reported at $100.66 on Wednesday afternoon, up $2.10 from the day prior. The CME Lean Hog Index was 76 cents higher on July 13 at $93.87.
USDA’s pork carcass cutout value was 25 cents higher in the Wednesday afternoon report at $101.46. The belly was the only primal reported higher, up $7.11. USDA estimated federally inspected hog slaughter for Wednesday at 482,000 head, with the weekly total at 1.408 million head. That is 6,000 head below the week prior and 13,037 head above the same week last year.
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Jul 26 Hogs closed at $95.150, up $0.050,
Aug 26 Hogs closed at $100.350, up $1.900
Oct 26 Hogs closed at $86.625, up $2.250,
On the date of publication, Austin Schroeder 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.
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