Lean hog futures closed with gains of $1.52 to $1.92 on Wednesday, with April an exception, down 85 cents. USDA’s national average base hog negotiated price was reported at $86.08 on Wednesday, down 75 cents from the day prior. The CME Lean Hog Index was down 3 cents from the previous day at $88.16 on April 7.
Late on the Wednesday session, President Trump announced that there would be a 90-day tariff pause on the targeted countries with the exception being China. The blanket 10% tariff was left for all countries. The new tariffs on China were raised to 125%.
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USDA’s Wednesday afternoon pork cutout value was another $2.69 lower at $90.76 per cwt. The picnic was the only primal reported higher. USDA’s federally inspected hog slaughter was estimated at 487,000 head on Wednesday, with the week to date total at 1.463 million head. That is up 25,000 head from last week and 34,319 head above the same week last year.
Apr 25 Hogs closed at $86.975, down $0.850,
May 25 Hogs closed at $86.125, up $1.525
Jun 25 Hogs closed at $91.700, up $1.925,
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.
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