Hogs Turn Higher on Wednesday
Lean hog futures saw marginal strength of 40 to 95 cents on the Wednesday session. USDA’s national base hog price was back up 51 cents in the Wednesday afternoon report, with negotiated trade at $112.06. The CME Lean Hog Index was down 77 cents at $110.99 on June 30.
USDA’s Wednesday morning FOB plant pork cutout value was down $1.55 at $110.75. The butt was down $10.09, with the belly $3.60 lower and rib down $6.77. Federally inspected hog slaughter for Tuesday as estimated at 482,000 head by USDA, taking the WTD total to 1.423 million head. That is up 9,000 head from last week and 7,701 head above the same week last year.
Jul 25 Hogs closed at $109.650, up $0.650,
Aug 25 Hogs closed at $107.900, up $0.950
Oct 25 Hogs closed at $93.000, up $0.425,
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.
