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Today 3 to 5 Days Out 2 to 3 Weeks Out Hedgers Highlights
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Lean hog futures are trading steady to 35 cents higher so far on Friday. The CME Lean Hog Index for 12/13 was down 22 cents to $64.64. The USDA pork carcass cutout value was up 21 cents at $77.52 in the Friday morning report. The butt and picnic were lower, with the rib down $5.17. The national base hog price was $1.12 higher at $57.72 this morning. The USDA week to date FI hog slaughter was 1,866,000 head WTD through Thursday. That was up 12,000 head from the previous week and 102,000 head more than the same week last year. US pork export commitments YTD are 6.8% larger than this time last year.Feb 18 Hogs are at $67.650, up $0.025,Apr 18 Hogs are at $72.475, up $0.225May 18 Hogs are at $77.950, up $0.350
Live cattle futures are mixed at midday, with nearby Dec up 95 and deferred contracts lower. Feeder cattle futures are mostly 27.5 to 52.5 cents lower on Friday. The CME feeder cattle index on December 13 was up 67 cents to $154.31. Wholesale boxed beef values were mixed on Friday morning. Choice was up 75 cents at $201.79, with select 8 cents lower at $183.61. Estimated week to date FI cattle slaughter was 475,000 head through Thursday, 2,000 head fewer than the previous week but 15,000 head larger than the same week last year. US beef export commitments are now 10.1% ahead of last year. Cash trade has yet to pick up this week, with bids of $114 reported so far today.Dec 17 Cattle are at $117.225, up $0.950,Feb 18 Cattle are at $119.500, up $0.350,Apr 18 Cattle are at $120.600, up $0.300,Jan 18 Feeder Cattle are at $145.975, down $0.275Mar 18 Feeder Cattle are at $143.825, down $0.525Apr 18 Feeder Cattle are at $144.200, down $0.500