Lean Hog futures closed the session $1.65 to $3.35 in the red on Wednesday. USDA’s National Average Base Hog price for the Wednesday PM report was $1.09 higher at $79.20. The CME Lean Hog Index for 3/13 was up just 3 cents from the previous day to $79.89.
The nearby pork cutout futures were down $1.80 on the day. USDA’s National Pork Carcass Cutout value was down another $1.99 in the Wednesday afternoon report at $86.38. The butt (+$0.21), rib (+$1.30), and belly (+$0.20) primals the only reported higher, with the ham (-$6.34) leading the way lower. USDA estimated federally inspected hog slaughter at 479,000 head for Wednesday, down 2,000 head vs. last week. The WTD total is 1.448 million head, 21,000 head larger vs. last week and 29,000 head above the same week last year.
Apr 23 Hogs closed at $83.750, down $1.650,
May 23 Hogs closed at $91.325, down $2.375
Apr 23 Pork Cutout closed at $90.625, down $1.800,
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. For more information please view the Barchart Disclosure Policy here.
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