Hogs Look to Thursday Trade

Lean hog futures posted 20 to 67 cent gains across most contracts on Wednesday. Open interest was up 2,684 contracts, suggesting modest new buying. USDA’s national base hog price was reported at $90.75 on Wednesday afternoon, down 27 cents from the day prior. The CME Lean Hog Index was down another 21 cents on August 24 at $92.65.

USDA’s pork carcass cutout value was back down $2.12 in the Wednesday PM report, at $95.55. The butt was the only primal reported higher. USDA estimated federally inspected hog slaughter for Tuesday at 484,000 head, with the week to date total at 1.423 million head. That is 8,000 head below the previous week and up 7,589 head from the same week last year.

Oct 26 Hogs  closed at $80.900, up $0.450,

Dec 26 Hogs  closed at $70.975, up $0.625

Feb 27 Hogs  closed at $73.725, up $0.550,

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.