Hogs Post Triple Digit Pop on Wednesday, as Cash Strengthens
Lean hog futures were $1.15 to $1.35 higher on Wednesday. USDA’s national average base hog negotiated price was reported at $98.29 on Wednesday afternoon, above the 5-day rolling average at $96.98. The CME Lean Hog Index was up another 11 cents on May 26, at $93.05.
USDA’s FOB plant pork cutout value from the Wednesday PM report was $102.40, back down $1.33. The rib was the only primal reported higher, up $6.01, with the rest reported lower. Federally inspected hog slaughter for Wednesday was estimated at 490,000 head by the USDA, taking the weekly total to 970,000. That is up 7,188 head from the same holiday week last year.
Jun 25 Hogs closed at $100.275, up $1.175,
Jul 25 Hogs closed at $103.300, up $1.150
Aug 25 Hogs closed at $103.525, up $1.350,
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.