Hogs Rallying at Wednesday’s Midday

Lean hog futures are up $1.20 to $1.95 across the nearbys on Wednesday. The national average base hog price was reported at $78.12 on Wednesday morning. The CME Lean Hog Index was reported at $84.08 on October 14, down 8 cents from the day prior. 

USDA’s FOB plant pork cutout value was reported at $95.02 per cwt in the Wednesday AM release, up 62 cents from the day prior. The picnic, rib, and ham were the only primals reported higher. USDA estimated Tuesday’s FI hog slaughter at 487,000 head, bringing the weekly total at 960,000 head. That is up 5,000 head from the previous week but down 830 head from the same week last year.

Dec 24 Hogs  are at $77.175, up $1.950,

Feb 25 Hogs  are at $80.950, up $1.650

Apr 25 Hogs  is at $85.000, up $1.200,

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.