Hogs Fall Weaker on Wednesday as Pork Prices Head Back Lower

Lean hog futures closed the Wednesday session with contracts down 62 cents to $1.42 lower across the board. USDA’s national base hog price was up $1.76 from the day prior in the Wednesday PM report at $67.70. The CME Lean Hog Index was down another 38 cents on October 19 at $73.02.

USDA’s pork carcass cutout value was down $4.03 in the Wednesday afternoon report, at $74.50. All primals were reported lower, led by the belly (-$12.01) and the picnic (-9.17). Federally inspected hog slaughter for Wednesday was estimated at 495,000 head, with the weekly total at 1.459 million head. That is 14,000 head below last week and 360 head above of the same week last year, as Tuesday was revised 5,000 head lower.

Dec 26 Hogs  closed at $65.725, down $1.425,

Feb 27 Hogs  closed at $67.925, down $1.250

Apr 27 Hogs  closed at $72.700, down $1.150,

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.