Lean hog futures were weaker on Wednesday, with losses of 75 to 85 cents, as August was up 7 cents ahead of Thursday’s expiration. Preliminary open interest was down 2,101 contracts. USDA’s national base hog price was reported at $110.48 on Wednesday afternoon, down $1.93. The CME Lean Hog Index was down 18 cents at $109.84 on August 11.
USDA’s FOB plant pork cutout report from Wednesday afternoon was back up $1.80 at $116.50 per cwt. The rib and ham were reported lower, with the rest higher led by the picnic and ham. USDA estimated hog slaughter at 478,000 head for Wednesday, taking the week to date total to 1.44 million. That was 68,000 head above last week but down 8,709 head from the same week last year.
Aug 25 Hogs closed at $109.625, up $0.075,
Oct 25 Hogs closed at $90.775, down $0.825
Dec 25 Hogs closed at $83.050, 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.
