Hogs Push Higher on Wednesday
Lean hog futures were anywhere from a dime to $2.47 higher across the board on Wednesday. The national average base hog price was reported at $77.43 on Wednesday afternoon, up 63 cents from the previous day. The CME Lean Hog Index was reported at $84.08 on October 14, down 8 cents from the day prior.
USDA’s FOB plant pork cutout value was reported at $94.85 per cwt in the Wednesday PM release, up 45 cents from the day prior. The picnic, rib, and ham were the only primals reported higher. USDA estimated Wednesday’s FI hog slaughter at 486,000 head, bringing the weekly total at 1.446 million head. That is up 5,000 head from the previous week and 7,252 head from the same week last year.
Dec 24 Hogs closed at $77.700, up $2.475,
Feb 25 Hogs closed at $81.100, up $1.800
Apr 25 Hogs closed at $85.050, up $1.250,
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.