Hogs Holding Higher at Midday as Pork Posts Morning Rebound
Lean hog futures are trading with contracts up 32 to 65 cents across most contracts. USDA’s national base hog price was back down $2.72 from the previous day, at $109.10 on Thursday afternoon. The CME Lean Hog Index was down 14 cents at $110.37 on July 30.
USDA’s FOB plant pork cutout report from Friday morning was back up $3.44 at $117.44 per cwt. The ham and butt primals were the only reported lower with the belly leading the charge higher, up $9.48. USDA estimated hog slaughter at 479,000 head for Thursday, with the week to date total at 1.859 million head after a revised Wednesday total (8,000 head lower). That was 2,000 head below last week and down 45,418 head from the same week last year.
Aug 25 Hogs are at $107.450, up $0.325,
Oct 25 Hogs are at $90.225, up $0.650
Dec 25 Hogs is at $82.375, up $0.650,
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.
