Hog Strength Continuing on Wednesday
Lean hog futures are posting 15 cent to $1.55 higher trade on Wednesday. The national average base hog price was reported at $85.94 on Wednesday morning, above the $82.04 reported on Tuesday afternoon. The CME Lean Hog Index was reported at $85.73 on October 28, up 18 cents from the day prior.
USDA’s FOB plant pork cutout value was back up $1.23 from the day prior in the Wednesday AM report at $102.30 per cwt. The butt, picnic, and rib primals were down $0.69 and $1.88, with the belly leading the charge higher, up $7.02. USDA estimated Tuesday’s FI hog slaughter at 488,000 head, with the week to date total at 976,000. That is even with the previous week and 10,943 head above than the same week last year.
Dec 24 Hogs are at $84.375, up $1.550,
Feb 25 Hogs are at $85.925, up $0.550
Apr 25 Hogs is at $87.925, 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.