Pigs feeding from trough in pen
The new week of trading has the hog market 25 to 85 cents in the black through midday. The USDA National Average Base Hog Price was 11 cents stronger to $85.34. The CME Lean Hog Index was $88.63 on 11/10, down by 33 cents.
Front month pork cutout futures are up $1.20 on thinner volume and OI. The USDA reported the pork carcass cutout value at $98.05 after a nickel boost. 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 are at $84.800, up $0.450,
Feb 23 Hogs are at $89.150, up $0.750
Dec 22 Pork Cutout is at $95.450, up $0.550,
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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