Hog Gains Continue on Wednesday
Lean hog futures are posting gains on Wednesday, with contracts up 55 cents to $1.50. USDA’s national average base hog negotiated price was up $2.04 from the previous day in the Wednesday morning report at $88.57. The CME Lean Hog Index was reported at $86.19 on February 10, up another 44 cents from the day prior.
The FOB plant pork cutout value was down 91 cents in the Wednesday morning report from USDA at $98.81 per cwt. The loin, butt, and belly primals were all reported lower. The Federally inspected hog slaughter for Tuesday was estimated at 491,000 head, with the week to date total at 982,000 head. That was 7,000 head above last week and up 14,230 head from the same week last year.
Feb 25 Hogs are at $89.300, up $0.575,
Apr 25 Hogs are at $94.475, up $1.500
May 25 Hogs is at $97.550, up $0.700,
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.