Hogs Extend Gains on Wednesday
Lean hog futures are up $1.15 to $1.725 so far on Wednesday. The national average base hog negotiated price was reported at $86.45 on Wednesday morning. The CME Lean Hog Index was reported at $84.07 on February 3, up 31 cents from the previous day.
Pork exports during December totaled 645.8 million lbs, which was the second largest for the month all time. That was a 0.4% increase from last month and 0.3% larger than last year.
USDA’s FOB plant pork cutout value was 47 cents lower in the Wednesday AM report at $94.29 per cwt. The loin, butt and rib primals were all reported lower. Federally inspected hog slaughter for Tuesday was estimated at 490,000 head, with the week to date total at 975,000 head. That was 12,000 head above last week and down 4,462 head from the same week last year.
Feb 25 Hogs are at $86.225, up $1.150,
Apr 25 Hogs are at $91.250, up $1.500
May 25 Hogs is at $95.475, up $1.725,
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.