The midday quotes in the lean hog market have the board down by 65 cents in the December contract, but up by $1.02 in May ’23 hogs. The USDA National Average Base Hog Price was delayed due to technical difficulties. It was quoted $90.54, down by $1.15, in the PM update on Friday. The 10/27 CME Lean Hog was $93.77 after a 48 cent drop.
Pork cutout futures are trading 22 to 82 cents stronger so far through the Monday session. The USDA Pork Cutout Value was delayed on Monday morning, after Friday’s $2.88 increase to $101.34. USDA estimated the week’s hog slaughter at 2.557m head through Saturday. That is up 5k head from the same week last year, though the YTD pace trails last year by 3.117m head.
Dec 22 Hogs are at $85.550, down $0.550,
Feb 23 Hogs are at $89.025, up $0.175
Dec 22 Pork Cutout is at $96.550, up $0.425,
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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