Hogs Weaker Again on Thursday
Lean hog futures are showing 75 to 92 cent losses across the front months on Thursday. The national average base hog price was reported at 77.70 on Thursday morning, down 23 cents from the day prior. The CME Lean Hog Index was $86.27 on September 3 up 12 cents from the day prior.
USDA’s FOB plant pork cutout value was down 12 cents in the Thursday AM report at $95.17 per cwt. The loin ribs were the only reported higher, with the belly down $6 to lead the way to the downside. USDA estimated the Wednesday FI hog slaughter at 485,000 head, with the week to date total at 971,000 head. That is well below the previous non-holiday week but 16,157 head larger than the same week last year.
Oct 24 Hogs are at $80.775, down $0.800,
Dec 24 Hogs are at $71.775, down $0.925
Feb 25 Hogs is at $75.025, down $0.750,
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.