Lean hog futures are trading with contracts up 40 to 95 cents so far on Wednesday’s midday. The national average base hog negotiated price was not reported on Wednesday morning due to light volume, with the 5-day rolling average at $79.03. The CME Lean Hog Index was reported at $83.98 on December 16, up 14 cents from the previous day.
USDA’s FOB plant pork cutout value reported back higher on Wednesday AM, up 90 cents at $95.67 per cwt. Just the loin and butt primals were reported slightly lower. USDA estimated the Tuesday FI hog slaughter at 488,000 head, taking the weekly total to 975,000 head. That was 2,000 head below last week and up 7,192 head from the same week last year.
Feb 25 Hogs are at $83.600, up $0.400,
Apr 25 Hogs are at $88.825, up $0.775
May 25 Hogs is at $92.650, up $0.950,
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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