Dec and Feb hogs are in the black at midday, though gains are limited to 12 cents. The deferred contracts are giving back 2 to 30 cents through midday on Thursday. The USDA National Average Base Hog Price was $1.28 weaker in the Thursday AM report to $85.90. The CME Lean Hog Index was 4 cents lower on 10/31 to $93.75.Â
Export Sales data had pork bookings at a 40-wk high of 47,938 MT. Mexico and China were the top buyers each with over 10k MT – Japan also booked 9.3k MT. Accumulated pork commitments were 1.421 MMT as of 10/27, a 24% reduction yr/yr, but still the 4th most ever.Â
Pork cutout futures are trading UNCH to 45 cents higher so far. The USDA Pork Cutout Value was $1.56 higher in the AM report to $97.79. USDA estimated FI hog slaughter at 1.456m head for the week through Wednesday. That is down 1,000 head from last week, but is up by 25k head from the same week last year.Â
Dec 22 Hogs  are at $83.375, up $0.075,
Feb 23 Hogs  are at $87.325, up $0.125
Dec 22 Pork Cutout  is at $94.300, up $0.450,
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.
