Lean hog prices are down by 35 to 75 cents across the front months. The USDA National Average Base Hog Price was $3.54 weaker on Thursday morning to $84.21. The CME Lean Hog Index was down by another 60 cents to $90.28 on 11/7.
USDA’s weekly Export Sales report had 10,752 MT of pork sold during the week that ended 11/3. That was a 46-wk low and included 3.5k MT of cancelations from Australia and 2.3k MT canceled from Japan. Pork exports from the week were 28.3k MT for a yearly total of 1.249 MMT – trailing last year’s pace by 19%.
Pork cutout futures are working 22 to 87 cents on the board. The AM Pork Cutout Value from USDA was $96.82 after a $2.70 increase led by hams. USDA estimated the week’s FI hog slaughter at 1.478m head through Wednesday. That compares to 1.456m head last week and 1.425m head from the same week last year.
Dec 22 Hogs are at $84.700, down $0.575,
Feb 23 Hogs are at $88.700, down $0.450
Dec 22 Pork Cutout is at $95.225, down $0.225,
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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