Piglets Sleeping Next to Each Other
Midday lean hog futures prices are trading $0.50 to $1 higher with triple digit gains from Feb ’23 to May ’23. The CME Lean Hog index was $93.35 on 10/1, up from $93.09. The National Average Base Hog price was $93.85 in the PM report, up by $7.61. USDA showed ECB hogs averaging $90.82 and WCB as $96.57 in the update.
The pork cutout futures are $0.27 higher in December and $1.07 in the black for May ’23. The Pork Cutout Value was down by 83 cents in the PM report to $102.67. Week to date hog slaughter was estimated at 981,000 head through Tuesday, compared to 977k last week and 953k head during the same week last year.
Dec 22 Hogs are at $86.800, up $0.325,
Feb 23 Hogs are at $88.400, up $0.600
Dec 22 Pork Cutout is at $96.675, up $0.150,
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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