Hogs Look to Thursday Trade After Firmer Wednesday
Lean hog futures saw Wednesday action holding near steady, a October was down 20 cents with other contracts steady to 7 cents higher. USDA’s national base hog price was reported at $109.81 in the Wednesday PM report, up 15 cents from the day prior. The CME Lean Hog Index was back down 52 cents at $109.06 on August 18.
USDA’s FOB plant pork cutout report from Wednesday afternoon was up 60 cents at $113.01 per cwt. The belly was down $2.72, with the other primals were reported higher. USDA estimated hog slaughter for the Tuesday at 480,000 head, with the weekly tally at 1.438 million head. That was 2,000 head below last week and down 11,525 head from the same week last year.
Oct 25 Hogs closed at $89.950, down $0.200,
Dec 25 Hogs closed at $82.975, up $0.000
Feb 26 Hogs closed at $85.875, up $0.075,
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.