Lean hog futures are showing mixed trade on Wednesday with nearbys down 10 to 60 cents and other deferred contracts slightly higher The USDA national average base hog negotiated price was reported at $91.42 this morning, up $1.97 from the previous day. The CME Lean Hog Index was down another penny from the previous day at $89.70 on March 10.
USDA’s FOB plant pork cutout was back down $2.45 in the Wednesday morning report at $95.15 per cwt. The butt was the only primal reported higher, with the belly leading the charge lower, down $11.69. USDA estimated the Tuesday Federally inspected hog slaughter at 489,000 head, with the weekly total at 976,000 head. That is 10,000 head above last week and 36,706 head larger than the same week last year.
Apr 25 Hogs are at $85.950, down $0.600,
May 25 Hogs are at $90.100, down $0.100
Jun 25 Hogs is at $98.525, up $0.150,
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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