Hogs Rallying on Wednesday
Lean hog futures are up $1.80 to $2.80 so far on Wednesday. USDA’s national average base hog negotiated price was up $1.73 on Wednesday morning to $86.40. The CME Lean Hog Index was down another 63 cents from the previous day at $85.37 on April 14.
Wednesday morning’s pork cutout value was back up 89 cents according to the USDA, at $92.62. The rib was up $6.17, with the ham and belly also reported higher. USDA’s federally inspected hog slaughter was estimated at 487,000 head for Tuesday, with the week to date total at 974,000 head. That is down 2,000 head from last week but 8,949 head above the same week last year.
May 25 Hogs are at $90.000, up $1.800,
Jun 25 Hogs are at $97.975, up $2.800
Jul 25 Hogs is at $97.775, up $2.300,
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.