Hogs Rally Triple Digits on Wednesday
Lean hog futures posted $2 to $3.07 gains in the front months on Wednesday, as August rolled off the board. The national average base hog price was up $1.26 at $84.43 on Wednesday afternoon. The CME Lean Hog Index was $90.34 on August 9, down 58 cents from the previous day.
USDA’s FOB plant pork cutout value was down $1.02 in the Wednesday PM report at $99.31 per cwt. The loin, butt, and ham primals were all lower, ranging from down $1.24 to $2.38. USDA estimated the Wednesday FI hog slaughter at 481,000 head bringing the week to date total to 1.446 million head. That is 72,000 head above the previous week and 37,924 head larger than the same week last year.
Aug 24 Hogs closed at $90.100, unch,,
Oct 24 Hogs closed at $75.925, up $3.075
Dec 24 Hogs closed at $67.250, up $2.500,
On the date of publication, Alan Brugler 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.
