Lean hog futures are slipping lower again on Wednesday with contracts down 95 cents to $2.15 at midday. The USDA national average base hog negotiated price was reported at $90.05 on Wednesday morning, up 24 cents from the day prior. The CME Lean Hog Index was up 4 cents from the previous day at $89.32 on March 17.
The Wednesday morning FOB plant pork cutout from USDA was up 18 cents at $95.82 per cwt. The loin and rib primals were the reported lower. USDA estimated Tuesday’s Federally inspected hog slaughter at 488,000 head, taking the week to date total to 975,000 head. That is down 1,000 from last week and 3,472 head larger than the same week last year. Wednesday kill will likely be slowed by a blizzard in parts of IA today.
Apr 25 Hogs are at $85.450, down $2.150,
May 25 Hogs are at $88.525, down $1.675
Jun 25 Hogs is at $96.400, down $0.950,
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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