Hogs Higher on Wednesday
Lean hog futures were up $1.50 to $2 on Wednesday. The national average base hog negotiated price was reported at $86.71 on Wednesday afternoon, up $1.31 from the day prior. The CME Lean Hog Index was reported at $84.08 on February 3, up 31 cents from the previous day.
Pork exports during December totaled 645.8 million lbs, which was the second largest for the month all time. That was a 0.4% increase from last month and 0.3% larger than last year.
USDA’s FOB plant pork cutout value was 93 cents lower in the Wednesday PM report at $98.83 per cwt. The loin, butt and rib primals were all reported lower, with the other three ranging from just 2 to 83 cents higher. Federally inspected hog slaughter for Wednesday was estimated at 489,000 head, with the week to date total at 1.464 million head. That was 14,000 head above last week and down 3,659 head from the same week last year.
Feb 25 Hogs closed at $86.650, up $1.575,
Apr 25 Hogs closed at $91.550, up $1.800
May 25 Hogs closed at $95.725, up $1.975,
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.