Hogs Pushing Pullback to Wednesday
Lean hog futures are posting 90 cent to $1.75 losses at midday. USDA’s national average base hog negotiated price was reported at $93.23 on Wednesday morning a 53 cent increase from the day prior. The CME Lean Hog Index was up another 60 cents from the previous day at $88.78 on April 28.
The Wednesday morning pork cutout value was back up 23 cents at $96.82 according to the USDA. The butt, rib, and belly primals were reported higher, with the rest lower. Tuesday’s federally inspected hog slaughter from USDA was estimated at 488,000 head, taking the weekly total to 974,000 head. That is up 133,000 head from the previous week and 19,329 head above the same week last year.
May 25 Hogs are at $91.650, down $0.900,
Jun 25 Hogs are at $97.700, down $1.750
Jul 25 Hogs is at $98.050, down $1.550,
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.