Hogs Push Higher on Wednesday, as Cash and Cutout Strength Continues
Lean hog futures settled Wednesday with 22 to 65 cent gains across most contracts. USDA’s national average base hog negotiated price was reported at $107.33 on Wednesday afternoon, up $1.49 from the day prior. The CME Lean Hog Index was up 92 cents on June 9, at $99.97.
USDA’s FOB plant pork cutout value from Wednesday’s PM report was up $2.20 at $113.08. The loin and rib primal were the only reported lower. Federally inspected hog slaughter for Wednesday was estimated at 480,000 head, taking the weekly total to 1.440 million head. That is up 17,000 from last week and 25,960 head larger than the same week last year.
Jun 25 Hogs closed at $103.375, up $0.225,
Jul 25 Hogs closed at $108.850, up $0.650
Aug 25 Hogs closed at $110.200, up $0.400,
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.