Hogs See Wednesday Losses, as Bulls Look for a Rebound
Lean hog futures closed the Wednesday session with 77 cent to $1.72 losses. Preliminary open interest was up 4,627 contracts on Wednesday. USDA’s national base hog report showed negotiated price was reported at $105.67, down 70 cents in the Wednesday PM report. The CME Lean Hog Index was down 25 cents on August 29 at $105.92.
USDA’s FOB plant pork cutout report from Wednesday afternoon was up 61 cents at $114.73 per cwt. The butt and rib were the only primals reported lower. USDA estimated hog slaughter for Wednesday at 489,000 head, with the week to date total at 972,000. That is 94 head above the same holiday week last year.
Oct 25 Hogs closed at $93.825, down $1.725,
Dec 25 Hogs closed at $87.125, down $1.050
Feb 26 Hogs closed at $89.300, down $0.775,
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.