Hog Strength Pushes to Wednesday

Austin Schroeder Barchart Thu May 29, 7:36AM CDT
Brown and white piglet by Fernando Cavalcanti via Pixabay

Lean hog futures closed with $1.15 to $1.35 gains on Wednesday. Preliminary open interest data was up 5,132 contracts on Wednesday. USDA’s national average base hog negotiated price was reported at $98.29 on Wednesday afternoon, above the 5-day rolling average at $96.98. The CME Lean Hog Index was up another 11 cents on May 26, at $93.05. 

Late on Wednesday, a Federal trade court ruled that President Trump’s liberation day tariffs were illegal, and he has exceeded his authority. The court gave the President 10 days to complete a process of halting the tariffs, while the white house is appealing the ruling. 

USDA’s FOB plant pork cutout value from the Wednesday PM report was $102.40, back down $1.33. The rib was the only primal reported higher, up $6.01, with the rest reported lower. Federally inspected hog slaughter for Wednesday was estimated at 490,000 head by the USDA, taking the weekly total to 970,000. That is up 7,188 head from the same holiday week last year.

Jun 25 Hogs  closed at $100.275, up $1.175,

Jul 25 Hogs  closed at $103.300, up $1.150

Aug 25 Hogs  closed at $103.525, up $1.350,


On the date of publication, Austin Schroeder 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.