Hogs Look to Thursday after Wednesday Weakness
Lean hog futures closed the midweek session up a dime in the nearby August contract on Wednesday, but other contracts down 65 to 82 cents. USDA’s national base hog price was reported at $113.77 on Wednesday afternoon, up 25 cents from the day prior. The CME Lean Hog Index was down 43 cents at $109.56 on August 4.
USDA’s FOB plant pork cutout report from Wednesday AM was down $2.90 at $115.22 per cwt. The butt and rib primals were the only reported higher. USDA estimated hog slaughter at 479,000 head for Wednesday, taking the week’s total to 1.386 million head. That was 6,000 head above last week and up 18,409 head from the same week last year.
Aug 25 Hogs closed at $108.875, up $0.100,
Oct 25 Hogs closed at $91.975, down $0.825
Dec 25 Hogs closed at $84.525, down $0.650,
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.