Lean hog futures closed firm to 45 cents higher in the front months on Wednesday. Open interest suggested new buying, up 3,770 contracts. USDA’s national base hog price was reported at $85.13 on Wednesday afternoon, up $4.94 from the day prior. The CME Lean Hog Index was up another 27 cents on Jan 19 at $82.03.
USDA’s pork carcass cutout value from the Wednesday PM report was 51 cents higher at $93.98 per cwt. The butt and picnic primals were reported lower. USDA estimated federally inspected hog slaughter for Wednesday at 495,000 head, taking the weekly total to 1.404 million head after a revision 4,000 head lower to Tuesday. That is 77,000 head below last week but 64,132 head above the same week last year.
Feb 26 Hogs closed at $87.850, up $0.000,
Apr 26 Hogs closed at $95.600, up $0.425
May 26 Hogs closed at $99.275, up $0.275,
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.
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