Lean hog futures are up by another 12 to 70 cents through the Thursday midday session. The USDA National Average Base Hog Price was down by $2.40 to $83.12 in the Thursday AM report. The 11/15 CME Lean Hog Index was $88.22, down by 31 cents.
USDA’s weekly pork Export Sales were 25,167 MT – a 2-wk high and even with last year’s. Mexico was the top buyer for the week, and was the top destination for 15.3k MT of the 30.6k MT total exports. YTD pork shipments reached 1.279 MMT as of 11/10 – down 19% from last year’s pace.
Pork cutout prices on the board are UNCH to 45 cents higher on lighter volume and OI. USDA’s Pork Carcass Cutout Value was 16 cents stronger on 11/17 to $93.79. The federally inspected hog slaughter was 1.473m head for the week through Wednesday. That is up 12k head from last week’s pace.
Dec 22 Hogs are at $85.725, up $0.150,
Feb 23 Hogs are at $91.075, up $0.725
Dec 22 Pork Cutout is at $96.100, up $0.200,
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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