Hogs Close Higher for Midweek

Front month Lean Hog futures were off the midday highs at Wednesday’s close, but held on to triple digit gains. The CME Lean Hog Index was $81.90 on the 26th, up $1.20. USDA’s National Average Base Hog price was $1.82 higher this evening to $82.75. The WCB base hog price was $85.19, but prices were withheld for the ECB due to confidentiality.

Pork Cutout futures ended $1.10 to $1.87 higher on Wednesday, with June now also above $100/cwt. USDA’s National Pork Carcass Cutout Value was quoted at $91.41 in the PM report, down $3.46. Hams were the biggest mover, dropping $8.50 to $77.10 cwt. USDA estimates federally inspected hog slaughter for the week through Wednesday at 1.487m head. That is 3,000 head above the same week last year’s pace.

China’s Farm Ministry confirmed the ASF cases in a transport of piglets in Yunnan. The report did not specify further contamination, but identifying the outbreak is fueling industry concerns that the disease was never irradicated. September Dalian Live Hog futures were back up to 28,097 yuan/MT (~ $1.97/lb).

 --- provided by Brugler Marketing & Management

  1. ·Apr 21 Hogs closed at $87.925, up $2.575,
  2. ·Jun 21 Hogs closed at $94.850, up $1.375
  3. ·Apr 21 Pork Cutout closed at $95.025, up $2.000,

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