Hogs Shift Focus to Friday Trade
Lean hog futures saw front months down 12 to 32 cents on Thursday, with some deferred contracts higher. Preliminary open interest was up 5,595 contracts. USDA’s national average base hog negotiated price was reported at $98.95 on Thursday afternoon, a 66 cent increase from the day prior. The CME Lean Hog Index was up another 47 cents on May 27, at $93.52.
USDA’s FOB plant pork cutout value from the Thursday PM report was $104.62, back up $2.22. The rib primal was the only reported lower. Federally inspected hog slaughter for Thursday was estimated at 480,000 head by the USDA, taking the weekly total to 1.439 million head. That is down 2,311 head from the same holiday week last year.
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Jun 25 Hogs closed at $100.025, down $0.250,
Jul 25 Hogs closed at $102.975, down $0.325
Aug 25 Hogs closed at $103.400, down $0.125,
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.
