Lean hogs ended up going nowhere to start the new month of November. Dec ’22, May ’23, and July ’23 ended in the black, but with gains of less than 30 cents. June ’23 closed 2 cents in the red, with the other contracts settling UNCH on the day. The USDA National Average Base Hog Price for Tuesday was up $1.41 to $89.75. The CME Lean Hog Index was 2 cents stronger on 10/28 to $93.79.
Pork cutout futures closed Tuesday down by a dime in December to 5 to 52 cents higher in the deferred months. The USDA Pork Cutout Value was another $2.73 weaker on Tuesday afternoon to $97.21. The 10/28 Fresh Bacon Index from CME was $180.71, down by $2.91. USDA estimated FI hog slaughter for Tuesday at 489k head. That has the week’s total at 975k head, after a Monday revision, for a 1,000 head lead over last week’s pace. The same week last year had 955k head.
Dec 22 Hogs closed at $85.200, up $0.275,
Feb 23 Hogs closed at $88.450, up $0.000
Dec 22 Pork Cutout closed at $95.375, down $0.100,
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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