Lean hog futures posited 25 to 75 cent gains across most front months on Wednesday. Open interest was up 1,634 contracts on Wednesday. USDA’s national base hog price was reported at $88.34 on Wednesday afternoon, up 11 cents from the day prior. The CME Lean Hog Index was 7 cents higher on Feb 16 at $87.13
USDA’s pork carcass cutout value from the Wednesday PM report was 32 cents lower at $95.56 per cwt. The picnic and belly primals were the only reported higher. USDA estimated federally inspected hog slaughter for Wednesday at 488,000 head, taking this week’s total to 1.432 million head. That was 34,000 head below last week and 10,633 head shy of the same week last year.
Apr 26 Hogs closed at $92.550, up $0.250,
May 26 Hogs closed at $97.000, up $0.675
Jun 26 Hogs closed at $106.600, up $0.750,
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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