Lean hog futures ended Wednesday trade with contracts up 37 to 97 cents in the front months and down 20 to 55 cents in the back months. The national average base hog negotiated price was reported at $78.03 on Wednesday afternoon, up 24 cents from the day prior. The CME Lean Hog Index was reported at $83.98 on December 16, up 14 cents from the previous day.
USDA’s FOB plant pork cutout value reported back higher on Wednesday PM, $1.58 at $96.35 per cwt. The loin, butt, and picnic primals were reported slightly lower, with the other three moderately higher. USDA estimated the Wednesday FI hog slaughter at 488,000 head, taking the weekly total to 1.463 million head. That is 1,000 head below last week and up 16,438 head from the same week last year.
Feb 25 Hogs closed at $83.700, up $0.500,
Apr 25 Hogs closed at $88.900, up $0.850
May 25 Hogs closed at $92.675, up $0.975,
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. More news from Barchart- Where are Animal Proteins Prices Heading in Q3 and Beyond?
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