Lean hog prices went home a nickel to 45 cents higher in the front month futures. For the Dec contract, that was a $1.05 drop from the day’s high. The USDA National Average Base Hog Price for Wednesday afternoon was $2.21 stronger at $98.98. The 10/24 CME Lean Hog was $94.81, up by 14 cents.
Pork cutout futures closed with an 8- cent loss in the December contract, but 22 to 25 cent gains in the other front months. The USDA Pork Cutout Value for Wednesday was $0.75 weaker to $97.74. USDA estimated the week’s FI hog slaughter at 1.464m head through Wednesday. That compares to 1.457m head last week and from 1.444m head during the same week last year.
Dec 22 Hogs closed at $88.500, up $0.050,
Feb 23 Hogs closed at $91.000, up $0.325
Dec 22 Pork Cutout closed at $97.525, unch,,
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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