Hog Bulls Look to End the Week on a Positive Note

Lean hog futures were mixed on Thursday, with contracts up 47 cents to 87 cents lower. Open interest was up 9,934 contracts on Thursday.  USDA’s national base hog price was reported at $39.64 on Thursday afternoon, up $2.12 from the day prior. The CME Lean Hog Index was down 21 cents on November 6 at $59.78.

USDA’s pork carcass cutout value was down 20 cents in the Thursday PM report, at $69.14. The rib and belly primals were the only reported higher. Federally inspected hog slaughter on Thursday was estimated at 487,000 head, taking the weekly total to 1.918 million head after a 22,000 head lower revision to Wednesday. That was 59,000 head below last week and 8,205 head larger than the same week last year.

Dec 26 Hogs  closed at $55.150, down $0.875,

Feb 27 Hogs  closed at $61.000, up $0.475

Apr 27 Hogs  closed at $66.825, up $0.350,

On the date of publication, Austin Schroeder did not directly have a position 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.