Lean hog futures showed mixed movement on Wednesday, with contracts ranging from a decrease of 40 cents to an increase of 55 cents. The United States Department of Agriculture reported the national base hog price at $89.83 on Wednesday morning, which is a drop of $1.90 compared to the previous day. The CME Lean Hog Index increased by 14 cents on April 20, reaching $90.51.
The USDA also released pork carcass cutout values in its Wednesday morning report, showing a value of $99.08 per hundredweight, up by 26 cents. Only the butt and rib primals were reported higher among pork cuts.
In terms of production numbers, the USDA estimated that Tuesday’s federally inspected hog slaughter reached 496,000 head, bringing the week’s total to 988,000 head so far. This figure is up by 5,000 head from last week and stands at more than 153,000 above the same period last year.
May lean hog contracts were priced at $95.00—down by $0.40—while June contracts stood at $102.85 after falling by $0.35. July contracts saw an increase to $105.775, up by $0.55.
Austin Schroeder said he did not have any positions in any securities mentioned in this article as of publication date: “On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article.” He added that all information was provided for informational purposes only.
Legacy Farmers Cooperative serves agricultural producers across ten counties in northwest Ohio and operates facilities such as grain centers and retail locations throughout the region according to the official website. The cooperative is structured as a member-owned organization with over 150 employees working across several divisions according to its official website.
The cooperative also supports community initiatives like youth agricultural education programs including FFA and scholarships according to its official website. Legacy Farmers Cooperative focuses on delivering value and financial returns for its members while maintaining operations based out of Findlay according to its official website.
