Lean hog futures are extending the gains into Thursday’s midday, with contracts 45 to 77 cents. USDA’s national base hog price was not reported on Thursday morning due to light volume. The CME Lean Hog Index was 6 cents higher on Feb 16 at $87.19.
USDA’s pork carcass cutout value from the Thursday AM report was 54 cents higher at $96.10 per cwt. The picnic and belly primals were the only reported lower. USDA estimated federally inspected hog slaughter for Wednesday at 488,000 head, taking this week’s total to 1.432 million head. That was 34,000 head below last week and 10,633 head shy of the same week last year.
Apr 26 Hogs are at $93.275, up $0.725,
May 26 Hogs are at $97.675, up $0.675
Jun 26 Hogs are at $107.050, up $0.450,
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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