Hogs Face Pressure on Wednesday

Lean hog futures saw weakness on Wednesday contracts falling $1 to $2.42 at the close. Open interest was down 2,300 contracts. USDA’s national base hog price was at $72.44 in the Wednesday PM report, down $3.30 from the day prior. The CME Lean Hog Index was down another 41 cents on October 5 at $79.22.

USDA’s pork carcass cutout value was down $2.13 in the Wednesday afternoon report, at $81.71. The butt primal was the only reported higher. Federally inspected hog slaughter for Wednesday was estimated at 495,000 head, with the week to date total at 1.482 million head. That was 26,000 head above last week and 27,662 head larger than the same week last year.

Oct 26 Hogs  closed at $76.925, down $1.000,

Dec 26 Hogs  closed at $69.100, down $1.275

Feb 27 Hogs  closed at $69.925, down $1.400,

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.