Lean hog futures are bouncing back on Wednesday, with gains of $1.22 to $1.97. USDA’s national base hog price from Wednesday morning was not reported due to low volume. The CME Lean Hog Index was down another 33 cents on November 17 at $86.67.
Pork exports during August were tallied at 542.8 million lbs according to a delayed release of Census trade data this morning. That was the second largest August total on record, 3.1% below last year.
USDA’s pork carcass cutout value from the Wednesday AM report was down $1.22 to $94.17 per cwt. The rib and ham primals were the only reported higher, with the belly leading the downward charge, losing $7.52. USDA estimated federally inspected hog slaughter for Tuesday at 494,000 head and the week to date total at 988,000 head. That is 34,000 head above last week and up 8,638 head from same week last year.
Dec 25 Hogs are at $79.125, up $1.225,
Feb 26 Hogs are at $79.525, up $1.500
Apr 26 Hogs is at $83.600, up $1.975,
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.