Hogs Rally Resumes on Wednesday as Negotiated Cash Firms
Lean Hog futures closed out the Wednesday session with contracts up 57 cents to $1.52. The national average base hog negotiated price was up $2.55 in the Wednesday PM report at $85.04. The CME Lean Hog Index was reported at $88.09 on November 18, down another 40 cents from the previous day.
USDA’s FOB plant pork cutout value reported back lower on Wednesday afternoon, down 8 cents at $94.60 per cwt. Just the picnic and ham primals were reported higher. USDA estimated the Wednesday FI hog slaughter at 488,000 head, with the weekly total at 1.466 million head. That is 30,000 head above last week and up 40,468 head from the same week last year.
Dec 24 Hogs closed at $80.525, up $0.975,
Feb 25 Hogs closed at $84.475, up $1.600
Apr 25 Hogs closed at $88.625, up $1.525,
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.