Hogs Look to Rebound From Recent Weakness

Source: Barchart

Hogs closed with losses of 2 to 75 cents on Wednesday.  USDA’s National Average Base Hog price for Wednesday afternoon was $1.72 weaker to $93.45. The CME Lean Hog Index was 64 cents lower to $101.93 on August 14.

Pork cutout futures were down a tick in the nearby October contract. The National Pork Carcass Cutout Value for Wednesday afternoon was $1.36 lower to $107.27. Most of the primals were lower, with just the butt showing a gain of $0.36. USDA estimated Wednesday’s FI hog slaughter at 471,000 head, for a weekly total of 1.408 million head. That compares to 1.35 million last week and 1.405 million during the same week last year.

Oct 23 Hogs  closed at $78.175, down $0.025,

Dec 23 Hogs  closed at $71.175, down $0.075