Hogs Leak Lower on Wednesday
Lean hog futures posted losses of 65 to 75 cents in the front months on Wednesday as May rolled off the board. USDA’s national average base hog negotiated price was reported at $93.61 on Wednesday afternoon, down 66 cents from the day prior. The CME Lean Hog Index was up 39 cents on May 12, at $90.31.
USDA’s FOB plant pork cutout value was up 12 cents in the Wednesday PM report, at $97.14. The ham and belly were the only primals reported lower. Federally inspected hog slaughter estimated by the USDA for Wednesday at 486,000 head, with the weekly total at 1.433 million head. That was down 5,000 head from the previous week but up 7,982 than the same week last year.
May 25 Hogs closed at $91.000, up $0.025,
Jun 25 Hogs closed at $98.850, down $0.650
Jul 25 Hogs closed at $102.450, down $0.750,
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.