The midday hog market is giving back 20 to 82 cents across most of the front months – save for Feb which is $1.02 in the red. The USDA National Average Base Hog Price was down by another $1.36 to $81.76. The 11/16 CME Lean Hog Index was another 8 cents lower to $88.14.
China reported October oirk imports of 160k MT, a 20.5% lighter volume than October 2021. YTD imports were 58.8% below ‘21’s pace at 1.38 MMT.
Pork cutout prices are trading with midday losses of as much as $1.52 through the front months. The AM cutout was $95.05 from USDA, down by $2.42. The federally inspected hog slaughter was 1.961m head for the week through Thursday. That is up 10k head from last week’s pace.
Dec 22 Hogs are at $84.400, down $0.575,
Feb 23 Hogs are at $89.775, down $1.025
Dec 22 Pork Cutout is at $94.775, down $0.725,
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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