Lean hog futures turned higher into Wednesday’s close, as contracts were up 12 to 55 cents. USDA’s national base hog price was reported at $90.17 on Wednesday afternoon, down 41 cents from the day prior. The CME Lean Hog Index was down another 28 cents on March 30 at $90.48. Thursday will be the last trade day for the week as the markets are off for Good Friday.
USDA’s pork carcass cutout value from the Wednesday PM report was down 67 cents at $95.58 per cwt. The rib primal was the only reported higher. USDA estimated Wednesday’s federally inspected hog slaughter at 491,000 head, with the week to date total at 1.477 million head. That is 7,000 head below last week and 33,573 head larger than the same week last year.
Apr 26 Hogs closed at $90.925, up $0.500,
May 26 Hogs closed at $96.775, up $0.250
Jun 26 Hogs closed at $105.175, up $0.125,
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.
