Hogs See Midweek Bounce as Traders Look to Thursday
Lean hog futures closed out Wednesday with contracts steady to 70 cents higher. USDA’s national base hog report from Wednesday afternoon saw trade averaging $107.76, up $1.66 from the day prior. The CME Lean Hog Index was down another 4 cents on September 8 at $105.87.
USDA’s FOB plant pork cutout report from Wednesday afternoon was back up $0.66 at $114.77 per cwt. The ham and belly primals were the only reported higher. USDA estimated federally inspected hog slaughter for Wednesday at 490,000 head, taking the week’s total at 1.46 million head. That is well above last week’s holiday and 6,561 head above the same week last year.
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Oct 25 Hogs closed at $96.825, up $0.700,
Dec 25 Hogs closed at $88.275, up $0.425
Feb 26 Hogs closed at $90.225, up $0.000,
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.
