Hogs Turning Back Higher on Wednesday
Lean hog futures are showing midday gains of 15 to 82 cents across most contracts at midday. USDA’s national base hog price was back up $2.81 in the Wednesday morning report, with negotiated trade at $112.09. The CME Lean Hog Index was down 77 cents at $110.99 on June 30.
USDA’s Wednesday morning FOB plant pork cutout value was down 42 cents at $111.88. The butt was down $10.60, with the belly 51 cents lower and the rest of the primals reported higher. Federally inspected hog slaughter for Tuesday as estimated at 478,000 head by USDA, taking the WTD total to 947,000 head following a Monday revision. That is up 11,000 head from last week but 977 head below the same week last year.
Jul 25 Hogs are at $109.575, up $0.575,
Aug 25 Hogs are at $107.775, up $0.825
Oct 25 Hogs is at $92.725, up $0.150,
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.