Hogs Settle Wednesday with Mixed Action
Lean hog futures fell off into the Wednesday close to end to the day with contracts down 35 cents to slightly higher in some deferred months. Preliminary open interest was up 2,027 contracts. USDA’s national average base hog negotiated price was up $1.87 from the day prior at $91.87 on Wednesday afternoon. The CME Lean Hog Index was up another 37 cents from the previous day at $86.08 on April 21.
The Wednesday afternoon pork cutout value from the USDA was $1.70 lower at $94.08. The butt primal was the only reported higher, with the rest heading lower. Wednesday’s federally inspected hog slaughter from USDA was estimated at 488,000 head, with the week to date total at 1.329 million head. That was down 133,000 head from last week and 121,024 head below the same week last year.
May 25 Hogs closed at $91.875, down $0.350,
Jun 25 Hogs closed at $100.150, down $0.125
Jul 25 Hogs closed at $100.300, up $0.025,
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.