Hogs Look to Thursday Action Following Wednesday Gains
Lean hog futures saw gains of 20 to 75 cents across most contracts, with August the exception, down a nickel. Open interest was up 199 contracts on Wednesday. USDA’s national base hog price was reported at $101.08 Wednesday afternoon, up 86 cents from the day prior. The CME Lean Hog Index was 48 cents higher on July 20 at $96.64.
USDA’s pork carcass cutout value was $1.32 lower in the Wednesday PM report, at $103.50. The loin, butt, and picnic were the only primals reported higher. USDA estimated federally inspected hog slaughter for Wednesday was 479,000 head, with the week to date total at 1.38 million head. That is 20,000 head below the week prior and 17,913 head shy of the same week last year.
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Aug 26 Hogs closed at $101.450, down $0.050,
Oct 26 Hogs closed at $88.350, up $0.225
Dec 26 Hogs closed at $79.825, up $0.575,
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