Hogs Slipping on Wednesday
Lean hog futures are trading with contracts down 72 to 85 cents. May expires today. USDA’s national average base hog negotiated price was reported at $92.97 on Wednesday morning. The CME Lean Hog Index was up 39 cents on May 12, at $90.31.
USDA’s FOB plant pork cutout value was up $1.12 in the Wednesday morning report, at $98.14. The ham was the only primals reported lower, down $2.40. Federally inspected hog slaughter estimated by the USDA for Tuesday at 481,000 head, with the weekly total at 947,000 head. That was down 20,000 head from the previous week and 178 lower than the same week last year.
May 25 Hogs are at $91.000, up $0.025,
Jun 25 Hogs are at $98.650, down $0.850
Jul 25 Hogs is at $102.475, down $0.725,
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.