Hogs in Rally Mode on Wednesday
Lean hog futures are showing gains of $1.6 to $2.05 on Wednesday with August up a nickel. USDA’s national base hog price was reported at $100.70 on Wednesday morning, up $3.83 from the day prior. The CME Lean Hog Index was 76 cents higher on July 13 at $93.87.
USDA’s pork carcass cutout value was 27 cents higher in the Wednesday morning report at $101.48. The rib, picnic, and belly primals were reported higher. USDA estimated federally inspected hog slaughter for Tuesday at 483,000 head, with the weekly total at 926,000. That is 16,000 head below the week prior and 4,401 head below the same week last year.
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Jul 26 Hogs are at $95.150, up $0.050,
Aug 26 Hogs are at $100.075, up $1.625
Oct 26 Hogs are at $86.425, up $2.050,
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