Lean hog futures posted midweek losses of $1 to $1.67 across most contracts, with some deferreds steady to 42 cents lower. Open interest was up 525 contracts. USDA’s national base hog price was reported at $86.28 on Wednesday afternoon, up $1.46 from the previous day. The CME Lean Hog Index was up another 42 cents on Jan 26 at $84.43.
USDA’s pork carcass cutout value from the Wednesday PM report was 64 cents lower to $95.05 per cwt. The picnic and rib primals were the only reported higher. USDA estimated federally inspected hog slaughter for Wednesday at 493,000 head, which takes the weekly total to 1.391 million head. That is 5,000 head below last week and 55,922 head below the same week last year.
Feb 26 Hogs closed at $87.950, down $1.100,
Apr 26 Hogs closed at $95.150, down $1.675
May 26 Hogs closed at $98.850, down $1.575,
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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