Hogs Close Mostly Lower, USDA Shows Slight Build to Pork Stocks
Lean hogs closed the midweek session with contracts a dime to $1.22 lower, as August was the lone exception, up a nickel. USDA’s National Average Base Hog negotiated price was down 36 cents on Wednesday afternoon, at $91.49. The CME Lean Hog Index was up 14 cents on April 22 at $91.45.
USDA reported 464.205 million lbs of pork in cold storage at the end of March, a 13.05% decline from a year ago but up 1.43% from last month.
USDA’s National Pork Carcass Cutout Value was back higher in the Wednesday PM report, up $0.38 at $97.27. The loin was the leader to the upside, with a $2.09 gain, as the rib primal was the only reported lower. USDA estimated Wednesday’s federally inspected hog slaughter at 483,000 head, with the week to date total at 1.451 million head. That is down 3,000 head from last week and a 43,934 head increase from the same week last year.
May 24 Hogs closed at $97.350, down $1.225,
Jun 24 Hogs closed at $107.450, down $0.500
Jul 24 Hogs closed at $109.850, down $0.100,
On the date of publication, Alan Brugler 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.