Hogs Get a Bounce on Thursday, as Traders Look to Round Out the Week

Lean hog futures found some strength, despite continued pork weakness, with contracts up 35 to 60 cents at the close. Open interest was up 2,643 contracts on Thursday. USDA’s national base hog price was reported at $71.70 on Thursday afternoon, up $2.56 from the day prior. The CME Lean Hog Index was down another 19 cents on October 12 at $75.75.

USDA’s pork carcass cutout value was down another $1.90 in the Thursday PM report, at $77.55. The picnic was the only primal reported higher. Federally inspected hog slaughter for Thursday was estimated at 498,000 head, with the weekly total at 1.971 million head after a 5,000 head revisions lower to Wednesday. That is 4,000 head below last week and 1114,504 head larger than the same week last year.

Dec 26 Hogs  closed at $66.575, up $0.500,

Feb 27 Hogs  closed at $68.450, up $0.600

Apr 27 Hogs  closed at $73.425, up $0.375,

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.