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Hogs Post Rally 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 38 cents on Wednesday afternoon to $86.22. The CME Lean Hog Index was down another 63 cents from the previous day at $85.37 on April 14.
Wednesday afternoon’s pork cutout value was back up 31 cents vis the USDA report, at $92.04. The rib, ham, and belly all reported higher. USDA’s federally inspected hog slaughter was estimated at 487,000 head for Wednesday, with the week to date total at 1.462 million head. That is down 1,000 head from last week but 10,275 head above the same week last year.
May 25 Hogs closed at $90.150, up $1.950,
Jun 25 Hogs closed at $97.950, up $2.775
Jul 25 Hogs closed at $97.900, up $2.425,
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.