Hogs Close with Mixed Action
Lean hog futures posted mixed trade on Wednesday, with contracts down 25 to 40 cents and July up 7 cents. USDA’s national average base hog negotiated price was reported at $93.02 on Wednesday afternoon, down 56 cents. The CME Lean Hog Index was another 26 cents higher on May 5, at $90.13.
The Wednesday morning FOB plant pork cutout value was down 16 cents/cwt on a carcass basis, at $95.54. The loin, butt, and rib were reported higher. Federally inspected hog slaughter from USDA was estimated 471,000 head for Wednesday, with a weekly total at 1.438 million head. That was down 17,000 head from the previous week and 5,194 head above the same week last year.
May 25 Hogs closed at $91.150, down $0.400,
Jun 25 Hogs closed at $97.325, down $0.250
Jul 25 Hogs closed at $99.475, up $0.075,
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.