Hogs Rallying at Midday
Lean hog futures are posting midday gains of 50 to 95 cents on Wednesday. The national average base hog price was not reported on Wednesday morning due to light volume, with the 5-dauy rolling average at $77.57, down 14 cents from the previous day. The CME Lean Hog Index was $85.56 on September 9, down 18 cents from the day prior.
USDA’s FOB plant pork cutout value was $1.52 lower in the Wednesday morning report at $93.28 per cwt. The rib and loin were the only primals reported lower, but down $6.64 and $6.21 respectively. USDA estimated FI hog slaughter at 484,000 head. That is well above the previous non-holiday week and 23,014 head larger than the same week last year.
Oct 24 Hogs are at $79.475, up $0.925,
Dec 24 Hogs are at $72.100, up $0.950
Feb 25 Hogs is at $75.550, up $0.500,
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.
