Lean hog futures extended the weakness on Wednesday, with contracts down 7 to 70 cents and December up 57 cents ahead of Friday’s expiration. The national average base hog negotiated price was reported at $81.39 on Wednesday afternoon, which was down 72 cents from the day prior. The CME Lean Hog Index was reported at $83.33 on December 9, down 13 cents from the previous day.
USDA’s FOB plant pork cutout value reported lower on Wednesday PM, down 27 cents at $92.87 per cwt. The butt and picnic were the only primals reported higher. USDA estimated the Wednesday FI hog slaughter at 487,000 head, bringing the weekly total to 1.464 million head. That was 1,000 head below last week and up 35,040 head from the same week last year.
Dec 24 Hogs closed at $83.500, up $0.575,
Feb 25 Hogs closed at $84.375, down $0.200
Apr 25 Hogs closed at $88.250, down $0.650,
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. More news from Barchart- Where are Animal Protein Prices Heading as the Offseason for Demand Approaches?
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