After the Tuesday trade set new life of contract highs for hog futures, Wednesday trading ended mixed. Feb closed 67 cents in the red, with June ’23 down by 5 cents. April, May, and July ended with 2 to 52 cent gains and August was UNCH at the bell. USDA’s National Average Base Hog price for Wednesday was $1.80 weaker to $76 flat. The CME Lean Hog Index was $78.60 on 12/26, down by 14 cents.
Pork cutout futures ended the day mixed as well, with Feb dropping 92 cents to the 23 cent gain in April. USDA’s National Pork Carcass Cutout value for Wednesday afternoon was $2.25 weaker, mainly driven by bellies and picnics, to $88.67. Federally inspected hog slaughter was reported as 991,000 head for the week through Wednesday.
Feb 23 Hogs closed at $90.800, down $0.675,
Apr 23 Hogs closed at $96.575, up $0.125
Feb 23 Pork Cutout closed at $96.850, down $0.925,
On the date of publication, Alan Brugler 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.
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