Hogs Rebound on Wednesday
Lean hog futures closed with gains of $1 to $1.85 on the Wednesday session. USDA’s national average base hog negotiated price was reported at $89.86 on Wednesday afternoon, up $1.02 from the day prior. The CME Lean Hog Index was down another 21 cents on February 24 at $89.47.
The Wednesday afternoon FOB plant pork cutout value was back up $1.01 at $96.66 per cwt. The butt, rib, and ham were the primals reported lower, with the rest higher led by the belly, up $10.30. USDA reported Federally inspected hog slaughter for Wednesday was estimated at 490,000 head, taking the week to date total to 1.469 million head. That is 12,000 head above last week but down 1,325 head from the same week last year.
Apr 25 Hogs closed at $88.300, up $1.725,
May 25 Hogs closed at $92.450, up $1.850
Jun 25 Hogs closed at $100.875, up $1.775,
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.
