Monday’s session has the hog market triple digits higher through midday. December is leading the way with a $3.37 gain so far, while the June ’23 contract is up just $1.30. The USDA National Average Base Hog Price was $1.48 weaker in the Monday AM quote at $82.68. The CME Lean Hog Index was down another 89 cents to $91.45 on 11/3.
Pork cutout futures are also trading triple digits higher so far. The USDA Pork Cutout Value for Monday morning was $1.92 higher to $98.64. USDA estimated FI hog slaughter at 2.577m head for the week through Saturday. That compared to 2.557m head last week and 2.612m head during the same week last year.
Dec 22 Hogs are at $86.625, up $3.650,
Feb 23 Hogs are at $89.025, up $2.600
Dec 22 Pork Cutout is at $95.500, up $1.625,
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.
