Hog Weakness Extending to Wednesday
Lean hog futures are trading with Wednesday losses of 25 to 50 cents USDA’s national average base hog negotiated price was reported at $92.41 on Wednesday morning. The CME Lean Hog Index was another 26 cents higher on May 5, at $90.13.
The Wednesday morning FOB plant pork cutout value was up 15 cents/cwt on a carcass basis, at $95.85. The loin, butt, and rib were reported higher. Federally inspected hog slaughter from USDA was estimated 485,000 head for Tuesday, with a weekly total ta 967,000 head. That was down 7,000 head from the previous week and 9,019 head above the same week last year.
May 25 Hogs are at $91.075, down $0.475,
Jun 25 Hogs are at $97.325, down $0.250
Jul 25 Hogs is at $99.050, down $0.350,
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.