Lean hog futures are back up $1.50 to $2.625 at midday. The national average base hog negotiated price was reported at $89.03 on Wednesday morning. The CME Lean Hog Index was up another 28 cents from the previous day on March 3 at $90.22.
Reports are surfacing that the US is throwing around a delay in the implementation of tariffs on autos from Mexico and Canada, though nothing has been made official. President Trump spoke with President Trudeau of Canada this morning though there are no updates to this point on how the meeting went.
The Wednesday morning FOB plant pork cutout value from USDA was back up $2.36 at $100.13 per cwt. The loin was the only primal reported lower, with the belly up $12.68. USDA estimated the Tuesday Federally inspected hog slaughter at 487,000 head, with the week to date total at 972,000 head. That is 7,000 head below last week but 35,481 head above the same week last year.
Apr 25 Hogs are at $84.975, up $2.625,
May 25 Hogs are at $87.725, up $2.250
Jun 25 Hogs is at $94.675, up $1.525,
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.
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