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Hogs Mixed at Midday
Lean hog futures are showing mixed action at midday, with nearby contracts down a tick to 15 cents higher. The national average base hog price was not reported on Wednesday morning due to light volume, with the 5-day rolling average at $76.55. The CME Lean Hog Index was $84.22 on September 16, down another 16 cents from the day prior.
USDA’s FOB plant pork cutout value was up $1.08 in the Wednesday AM report at $96.08 per cwt. The picnic and belly were the only primals reported lower, with the loin leading the way to the upside, up $2.06. USDA estimated FI hog slaughter at 474,000 head for Tuesday, with the weekly total at 949,000 head. That is down 21,000 head from the previous week on a Monday revision and 22,094 head below the same week last year.
Oct 24 Hogs are at $81.925, up $0.150,
Dec 24 Hogs are at $73.675, down $0.025
Feb 25 Hogs is at $76.850, up $0.050,
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.