Last Monday’s trade shot prices high enough that the remaining week’s weakness only limited the weekly gain. Dec and Feb hogs were up 1.7% and 2.3% respectively last week. On Friday, lean hog prices were mixed, closing 12 to 52 cents lower through the April contract. The deferred contracts closed the day 10 to 15 cents in the black with May UNCH. The USDA National Average Base Hog Price was 11 cents stronger to $85.34. The 11/9 CME Lean Hog Index was down by 50 cents to $88.96.
Friday’s session closed with pork cutout futures 25 to 75 cents in the red. The USDA reported the pork carcass cutout value at $98 flat after a $1.46 drop. USDA estimated the week’s FI hog slaughter at 2.492m head through Saturday. YTD slaughter was figured at 108.148m head – a 2.9% decrease from last year’s pace.
Dec 22 Hogs closed at $84.350, down $0.525,
Feb 23 Hogs closed at $88.400, down $0.425
Dec 22 Pork Cutout closed at $94.900, down $0.600,
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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