Hog Continue Slide on Wednesday

Pig with dirt on snout ear tagged

Lean hogs are continuing to slide on Wednesday, as contracts are down 80 cents to $1.25. USDA’s National Average Base Hog negotiated price was reported at $87.02 on Wednesday morning, down $1.47 from day prior. The CME Lean Hog Index was down 21 cents on May 20 at $92.01

USDA’s National Pork Carcass Cutout Value was down another 59 cents in the Wednesday AM report at $100.10. The loin and the butt were the only of the 6 primals reported lower, down $2.70 and $6.37 respectively. USDA estimated Tuesday’s federally inspected hog slaughter at 480,000 head, with the WTD total at 957,000 head. That is up 16,000 head from the week prior and 8,826 head above the same week last year. 

Jun 24 Hogs  are at $95.400, down $1.000,

Jul 24 Hogs  are at $98.100, down $1.225

Aug 24 Hogs  is at $97.650, down $0.925,

On the date of publication, Alan Brugler 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.