Lean hog futures posted 47 to 57 cent gains on Wednesday. Preliminary open interest was up 4,658 contracts on Wednesday. USDA’s national base hog price was reported at $108.80 in the Wednesday PM report, up 40 cents from the day prior. The CME Lean Hog Index was down 41 cents on August 25 at $106.86.
USDA’s FOB plant pork cutout report from Wednesday afternoon was down $1.39 at $111.66 per cwt. The picnic and rib primals were the only reported higher. USDA estimated hog slaughter for Wednesday at 481,000 head, taking the weekly total to 1.416 million head. That was 22,000 head below last week and down 10,211 head from the same week last year.
Oct 25 Hogs closed at $93.900, up $0.475,
Dec 25 Hogs closed at $86.500, up $0.575
Feb 26 Hogs closed at $88.625, up $0.500,
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.
