Friday Hog Market to Secure Weekly Gain

The lean hog futures market rallied triple digits on Thursday after breaking above the 100day MoAv. December closed off the high, but was still up the most on a $2.35 gain. The other front months closed $1.15 to $1.85 in the black. The USDA National Average Base Hog price was $3.15 weaker on Thursday to $95.11. The CME Lean Hog Index was down 9 cents on 9/13 to $97.58. 

USDA reported 25,067 MT of pork was sold during the week that ended 9/8. Accumulated shipments reached 1.018 MMT as of 9/8. 

Pork cutout futures also bounced on Thursday with gains of $0.97 to $2.30. USDA’s National Pork Carcass Cutout value was down by $1.03 on Thursday afternoon to $105.85. USDA’s estimate for FI hog slaughter was 1.917m head for the week through Thursday. That is up 28k head from the same week last year.  

Oct 22 Hogs  closed at $96.050, up $1.350,

Dec 22 Hogs  closed at $87.650, up $2.350

Oct 22 Pork Cutout  closed at $104.375, up $0.975,