Lean Hogs Futures Market News and Commentary
Front month hog prices added another $1.07 to $1.60 to the upside on Wednesday. Dec futures still remain below the index, but only increased 5 cents on the day. The CME Lean Hog Index for 11/27 was $71.66, down by another 67 cents. USDA’s National Average Base Hog price was down by 37 cents to $58.06.
The National Pork Carcass Cutout Value was 83 cents weaker on Wednesday to $83.97. USDA estimated the week’s FI hog slaughter at 1.444 million head through Wednesday. That is 22k more than last week’s pace but 22k below the same week last year.
Dec 23 Hogs closed at $68.975, up $0.050,
Feb 24 Hogs closed at $70.100, up $1.075
Dec 23 Pork Cutout closed at $80.625, down $0.350,On the date of publication, Alan Brugler 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.