Lean hog futures faced weakness on Wednesday, with contracts $1.37 to $2.57 lower. Open interest was down 1,898 contracts, mainly in nearby August. USDA’s national base hog price was reported at $101.79 on Wednesday afternoon, up 79 cents from the day prior. The CME Lean Hog Index was another 12 cents higher on July 24 at $98.35.
USDA’s pork carcass cutout value was down $2.13 in the Wednesday afternoon report, at $101.78. All primals were reported lower. USDA estimated federally inspected hog slaughter for Wednesday was 471,000 head, with the week to date total at 1.353 million head. That is 27,000 head below the previous week and 26,885 head shy of the same week last year.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.Aug 26 Hogs closed at $100.675, down $2.425,
Oct 26 Hogs closed at $85.700, down $2.575
Dec 26 Hogs closed at $77.200, down $2.475,
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