Following 4 consecutive up days, December hogs cooled off with a 35 cent pullback on Thursday. Dec has seen 8 green candles of the past 12 sessions for a net $12.60 gain since 10/4. The other front months extended the rally, but gains were limited to 50 cents at the bell. The 10/18 CME Lean Hog from was up 1 penny to $93.20. The National Average Base Hog price was delayed on Thursday afternoon, the Wednesday afternoon quote was $3.67 stronger to $97.52. Â
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.Â
The pork cutout futures ended the day with 10 to 20 cent gains. 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 for the week through Thursday at 1.948m head. That compares to 1.959m head last week and 1.904m head during the same week last year. Â
Dec 22 Hogs  closed at $87.025, down $0.350,
Feb 23 Hogs  closed at $89.100, up $0.100
Dec 22 Pork Cutout  closed 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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