Brown and white piglet
So far for the new week of trade the lean hog market is working 2.5% to 2.7% in the black on triple digit gains of as much as $2.37. The National Average Base Hog price was $2.66 weaker in the AM report to $84.63. The CME Lean Hog Index was 42 cents stronger on 10/13 to $93.09.
Pork cutout futures are also on the rise through midday, gaining $1.20 to $1.70 so far. The Pork Cutout Value from the AM report was $104.55, up by $2.69. The USDA estimated FI hog slaughter as 2.545m head for the week through Saturday. That is 13k head above last week’s pace but is 85k head lighter than the same week last year.
Dec 22 Hogs are at $84.450, up $2.200,
Feb 23 Hogs are at $85.600, up $2.175
Dec 22 Pork Cutout is at $94.250, up $1.700,
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.
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