Lean hog futures posted a Wednesday rally, with contracts up 55 cents to $2.92 led by the front months. Soon to expire May (on Thursday) was down a tick. Open interest was up 2,460 contracts on Wednesday, implying new buying interest. USDA’s national base hog price was reported at $95.51 on Wednesday morning, up 32 cents from the day prior. The CME Lean Hog Index was back up 7 cents on May 11 at $90.48.
USDA’s pork carcass cutout value from the Wednesday PM report was back up 51 cents at $96.03 per cwt. The picnic and belly primals were the only reported lower. USDA estimated federally inspected hog slaughter for Wednesday at 484,000 head, with the weekly total at 1.432 million head. That is down 12,000 head from the previous week but 3,084 head above the same week last year.
May 26 Hogs closed at $90.900, down $0.025,
Jun 26 Hogs closed at $100.875, up $2.450
Jul 26 Hogs closed at $105.875, up $2.925,
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.
