The lean hog futures market was mixed at the closing bell, with the 2024 contracts 7 cents higher compared to $0.12 to $1.12 losses nearby. July prices faded by $1.10 on Wednesday, but the contract stayed above the gap up from Friday. USDA’s National Average Base Hog price increased 78 cents on Wednesday to $96.34. The CME Lean Hog Index was 54 cents higher to $88.75 for 6/19.
Pork cutout futures ended the day down by 12 to 30 cents, save for a 10c gain in August. USDA’s National Pork Carcass Cutout Value for Wednesday afternoon strengthened $1.46 to $96.08. The week’s FI hog slaughter was estimated at 1.384 million head through Wednesday. That is down from 1.392 million last week and 4k head lighter than the same week last year.
Jul 23 Hogs closed at $94.750, down $1.100,
Aug 23 Hogs closed at $92.775, down $0.425
Jul 23 Pork Cutout closed at $99.500, down $0.325,
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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