Lean hog futures closed the Wednesday session with contracts down 55 cents to $1.65, with nearby February up a nickel. Open interest hinted at long liquidation, down 2,261 contracts. USDA’s national base hog price was reported at $88.17 on Wednesday afternoon, up 43 cents from the day prior. The CME Lean Hog Index was 14 cents lower on Feb 6 at $86.32.
USDA’s pork carcass cutout value from Wednesday afternoon report was $1.69 lower at $93.77 per cwt. The loin was the only primal reported higher. USDA estimated federally inspected hog slaughter for Wednesday at 495,000 head, with the week to date total at 1.474 million head. That was 63,000 head above last week and 10,047 head above the same week last year.
Feb 26 Hogs closed at $86.900, up $0.050,
Apr 26 Hogs closed at $93.850, down $1.650
May 26 Hogs closed at $98.025, down $1.500,
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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