December lean hog futures are trading down by 20 cents at midday. The other front month contracts are up 10 to 45 cents so far. The 10/18 CME Lean Hog from was up 1 penny to $93.20. The National Average Base Hog price was delayed on Thursday morning, the Wednesday afternoon quote was $3.67 stronger to $97.52.
USDA reported the weekly pork export sales as 40,813 MT for the week that ended 10/13. That was a 29-week high led by sales to Mexico and Japan. USDA also had 28,420 MT shipped for the week, leaving accumulated exports 19.6% behind last year’s pace at 1.159 MMT.
The pork cutout futures are mixed on thin OI, within 12 cents of UNCH at midday. The Pork Cutout Value from USDA was delayed due to packer submission errors, last night’s quote was $101.30. USDA estimated FI hog slaughter at 1.457m head for the week through Wednesday. That is trailing last week by 9,000 head, but is up 25,000 head from the same week last year.
Dec 22 Hogs are at $87.150, down $0.225,
Feb 23 Hogs are at $89.050, up $0.050
Dec 22 Pork Cutout is at $97.000, up $0.125,
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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