Lean hog futures saw mixed trade on Wednesday, with contracts up 17 cents to 40 cents lower. Open interested slipped 1,374 contracts on Wednesday. USDA’s national base hog price was reported at $91.65 on Wednesday afternoon, down 97 cents from the day prior. The CME Lean Hog Index was down another 7 cents on March 23 at $91.71.
Pork stocks on Thursday were reported at 403.503 million lbs at the end of February, the lowest for the months since 1997.
USDA’s pork carcass cutout value from the Wednesday PM report was down 57 at $96.40 per cwt. The butt and rib were the only primals reported higher. USDA estimated Wednesday’s federally inspected hog slaughter at 497,000 head, taking the week to date total to 1.484 million head. That is 97,000 head above last week and 39,163 head larger than the same week last year.
Apr 26 Hogs closed at $90.900, down $0.150,
May 26 Hogs closed at $95.550, up $0.075
Jun 26 Hogs closed at $104.125, up $0.075,
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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