Hogs Continuing Slide on Thursday
Lean hogs are trading with another round of weakness, with losses of $1.15 to $1.25. Thursday morning’s national average base hog negotiated price was reported at $89.45 by the USDA, down $3.32 from the day prior. The CME Lean Hog Index continues its rise, up 89 cents on February 18 at $90.98.
USDA’s FOB plant pork cutout value was down $1.28 on Thursday morning at $94.24 per cwt. The belly was again the main driver, down $9.16, with the rib and loin joining in on the weakness. The Wednesday Federally inspected hog slaughter was estimated at 489,000 head by the USDA, taking the weekly total to 1.457 million head. That is 15,000 head below last week and down 9,166 head from the same week last year.
Apr 25 Hogs are at $88.525, down $1.225,
May 25 Hogs are at $92.475, down $1.150
Jun 25 Hogs is at $100.475, down $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.