Hogs Face Pressure on Wednesday
Lean hog futures closed out the Wednesday session with contracts 50 cents to $1.02 lower. Preliminary open interest was up 3,377 contracts. USDA’s national average base hog negotiated price was reported at $95.30 on Wednesday afternoon, up $1.90 from the day prior. The CME Lean Hog Index was up another 39 cents on May 19, at $91.85.
USDA’s FOB plant pork cutout value from Wednesday afternoon was reported at $100.04, back down 48 cents. The butt, picnic, and belly primals were all reported lower. Federally inspected hog slaughter for Wednesday was estimated at 485,000 head by the USDA, with this week’s total at 1.449 million head. That was up 16,000 head from the previous week and 12,760 head above the same week last year.
Jun 25 Hogs closed at $99.525, down $0.500,
Jul 25 Hogs closed at $102.525, down $1.025
Aug 25 Hogs closed at $102.350, down $0.650,
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.