Hogs Look to Thursday with Stronger Cash Movement
Lean hog futures closed with strength across most contracts on Wednesday, with 45 cent to $1.05 gains. June was an exception, down a quarter. Preliminary open interest was up 6,370 contracts on Wednesday. USDA’s national average base hog negotiated price was reported at $103.05 on Wednesday afternoon, up $4.21 from the day prior. The CME Lean Hog Index was up 44 cents on June 2, at $96.34.
USDA’s FOB plant pork cutout value from the Wednesday PM report was $106.62, back up 51 cents. The ham, belly, and picnic primals were the only reported higher. Federally inspected hog slaughter on Wednesday was estimated at 483,000 head by the USDA, taking the weekly total to 1.423 head. That is down 14,019 head from the same week last year.
Jun 25 Hogs closed at $99.975, down $0.250,
Jul 25 Hogs closed at $105.025, up $0.450
Aug 25 Hogs closed at $107.500, up $1.050,
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.