Lean Hogs Futures Market News and Commentary
Hog futures closed mixed on Wednesday with 15 to 25 cent gains in the Dec and Feb contracts, The back month futures closed 7 to 37 cents weaker on the day. USDA’s National Average Base hog price for Wednesday afternoon was another $1.35 higher to $57.95. CME’s Lean Hog Index for 11/29 was down another 56 cents to $70.04.
Pork cutout futures traded weaker on Wednesday, closing the day 2 cents to $1.05 in the red. USDA’s National Pork Carcass Cutout Value for December 1 was $82.37 in the PM update. That was $4.33 weaker, as each primal was down more than $1. USDA estimates FI hog slaughter for the week through Wednesday at 1.443m head. That is up from 1.426m head last week, but is down 31k from the same week last year.
Dec 21 Hogs closed at $73.625, up $0.250,
Apr 22 Hogs closed at $85.075, down $0.175
Dec 21 Pork Cutout closed at $87.650, down $0.725,