Lean hog futures were weaker on Wednesday with contracts down 85 cents to $2.02 at the close. The USDA national average base hog negotiated price was reported at $91.02 on Wednesday afternoon, up $2.74 from the day prior. The CME Lean Hog Index was up 4 cents from the previous day at $89.32 on March 17.
The Wednesday afternoon FOB plant pork cutout from USDA was down 45 cents at $95.19 per cwt. The loin, butt, and rib primals were all reported lower. USDA estimated Wednesday’s Federally inspected hog slaughter at 377,000 head, slowed by a blizzard in parts of IA today, taking the week to date total to 1.352 million head. That is down 113,000 from last week and 108,158 head below the same week last year.
Apr 25 Hogs closed at $85.575, down $2.025,
May 25 Hogs closed at $88.700, down $1.500
Jun 25 Hogs closed at $96.500, 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 here.
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