Hogs Mostly Lower on Wednesday
Hogs are down 15 to 52 cents across most contracts, with exception to a 12 cent gain in the August. USDA’s National Average Base Hog negotiated price was up $2.31 at $88.45 in this morning report. The CME Lean Hog Index was another 25 cents higher at $90.98 on April 15.
USDA’s National Pork Carcass Cutout Value was slightly higher in the Wednesday morning report, up 16 cents at $99.17. The loin ($2.10), butt ($1.92), and picnic ($0.98) primals were all reported higher with the other primals slipping lower. USDA estimated Tuesday’s federally inspected hog slaughter at 486,000 head, bringing the weekly total to 968,000 head. That is 29,000 head above last week and a 20,067 head increase from the same week last year.
May 24 Hogs are at $94.200, down $0.525,
Jun 24 Hogs are at $102.350, down $0.475
Jul 24 Hogs is at $103.875, down $0.150,
On the date of publication, Alan Brugler 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.
