Hogs Leaking Lower on Wednesday

Lean hog futures were down 45 cents to $1.10 at midday.  The national average base hog price was reported at 78.63 on Wednesday morning. The CME Lean Hog Index was $86.15 on August 30, down 32 cents from the day prior. 

USDA’s FOB plant pork cutout value was down $1.54 in the Wednesday AM report at $97.28 per cwt. The picnic and ribs were the only reported higher, with the belly down $4.81 to lead the way to the downside. USDA estimated the Tuesday FI hog slaughter at 484,000 head, with the week to date total at 486,000 head. That is well below the previous non-holiday week but 12,698 head larger than the same week last year.

Oct 24 Hogs  are at $82.075, down $0.450,

Dec 24 Hogs  are at $72.700, down $1.100

Feb 25 Hogs  is at $75.475, down $0.850,

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

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