Hogs End Wednesday on a Soft Note
Lean Hog Futures Decline on Wednesday
Lean hog futures experienced notable declines on Wednesday, with losses ranging from $0.87 to $1.30. The USDA reported the national base hog price at $72.61 for the day, reflecting a decrease of $3.75 compared to the previous session. Meanwhile, the CME Lean Hog Index slipped by 8 cents on January 5, settling at $81.54.
According to the USDA's Wednesday afternoon report, the pork carcass cutout value increased by $1.04, reaching $92.29 per hundredweight. Gains were seen in the belly, rib, and ham primal cuts. The federally inspected hog slaughter for Wednesday was estimated at 496,000 head, bringing the weekly total to 1.489 million. This figure is up by 129,000 head from the previous week and 69,079 head higher than the same period last year.
Recent Hog Futures Closing Prices
- February 26 Hogs settled at $84.800, down $0.875
- April 26 Hogs ended at $90.275, down $1.300
- May 26 Hogs closed at $94.600, down $1.025
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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