Lean hog futures were weaker on Wednesday, with losses of 87 cent to $1.40. Open interest saw some longs liquidating, down 2,146 contracts. USDA’s national base hog price was reported at $92.89 on Wednesday afternoon, up 12 cents from the day prior. The CME Lean Hog Index was another dime higher on March 5 at $90.97.
USDA’s pork carcass cutout value from the Wednesday PM report was down 69 cents at $98.41 per cwt. The ham primal was the only reported higher. USDA estimated Wednesday’s federally inspected hog slaughter at 496,000 head, taking the weekly total to 1.476 million head. That is 23,000 head above last week and 13,613 head above the same week last year.
Apr 26 Hogs closed at $95.200, down $0.875,
May 26 Hogs closed at $100.050, down $1.300
Jun 26 Hogs closed at $109.250, down $1.400,
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.
