Lean hog futures were mixed on Wednesday, with nearby April down a nickel and other contracts higher. The USDA national average base hog negotiated price was reported at $91.64 on Wednesday afternoon. The CME Lean Hog Index was down another penny from the previous day at $89.70 on March 10.
USDA’s FOB plant pork cutout was back down $3 in the Wednesday afternoon report at $94.58 per cwt. All primals were reported lower, with the belly leading the charge to the downside $13.25. USDA estimated Wednesday’s Federally inspected hog slaughter at 489,000 head, with the weekly total at 1.465 million head. That is 133,000 head above last week and 41,579 head larger than the same week last year.
Apr 25 Hogs closed at $86.500, down $0.050,
May 25 Hogs closed at $90.450, up $0.250
Jun 25 Hogs closed at $98.700, up $0.325,
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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