Lean hog futures were higher on the Wednesday close, with contracts up $1.40 to $2.35. The national average base hog negotiated price from USDA was $1.07 higher on Wednesday afternoon at $90.28. The CME Lean Hog Index was up another 28 cents from the previous day on March 3 at $90.22.
President Trump is delaying part of the tariffs on Mexico and Canada by a month, with an exemption for auto under the condition they comply with the USMCA trade agreement. He reportedly is considering exempting certain ag products from the tariffs as well.
Wednesday afternoon’s FOB plant pork cutout value from USDA was down $1.29 to $96.48 per cwt. The rib was the only primal reported higher, up $1.62. USDA estimated the Wednesday Federally inspected hog slaughter at 409,000 head, hindered by the weather and transportation issues, with the week to date total at 1.375 million head. That is 94,000 head below last week and 46,380 head behind the same week last year.
Apr 25 Hogs closed at $84.700, up $2.350,
May 25 Hogs closed at $87.475, up $2.000
Jun 25 Hogs closed at $94.575, up $1.425,
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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