Hogs Head Lower on Wednesday
Lean hogs are down $1.10 to $2.07 on the Wednesday session so far. USDA’s National Average Base Hog negotiated price was up 34 cents from the day prior in the Wednesday morning report at $91.06. The CME Lean Hog Index was down 26 cents on April 29 at $90.26.
USDA’s National Pork Carcass Cutout Value was lower in the Wednesday morning report, down 38 cents to $98.38. The belly was down $9.57 to lead the way, with the butt the only other primal reported lower down 5 cents. USDA estimated federally inspected hog slaughter at 482,000 head on Tuesday, with the weekly total at 958,000 head. That is 10,000 head below last week and up 25,319 head from the same week last year.
May 24 Hogs are at $93.050, down $1.100,
Jun 24 Hogs are at $100.650, down $1.825
Jul 24 Hogs is at $104.050, down $1.375,
On the date of publication, Alan Brugler 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.
