Lean hog futures are up 20 to 70 cents across the front months on Thursday, with some contracts heading to contract highs. USDA’s national base hog price was not reported on Thursday morning due to light volume. The CME Lean Hog Index was up another 37 cents on Jan 20 at $82.40.
USDA’s pork carcass cutout value from the Thursday AM report was 60 cents higher at $94.58 per cwt. The rib primal was the only 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 are at $88.325, up $0.475,
Apr 26 Hogs are at $96.300, up $0.700
May 26 Hogs are at $99.475, up $0.200,
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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