Hogs Rebound Higher on Wednesday
Lean hog futures closed the Wednesday session with contracts 12 to 77 cents higher. USDA’s national base hog price was reported at $92.10 in the Wednesday PM report, down $2.27 from the day prior. The CME Lean Hog Index was down 69 cents on August 17 at $94.78.
USDA’s pork carcass cutout value was back down $1.54 in the Wednesday afternoon report, at $97.58. The rib and belly primals were the only reported higher. USDA estimated federally inspected hog slaughter for Wednesday at 476,000 head, with the weekly total at 1.436 million head. That is 14,000 head above the previous week and down 619 head from the same week last year.
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Oct 26 Hogs closed at $81.500, up $0.775,
Dec 26 Hogs closed at $71.425, up $0.500
Feb 27 Hogs closed at $74.250, up $0.250,
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.
