Nearby lean hog futures are up 25 to 50 cents on the board through Monday’s midday. The Dec contract is the outlier with a 57 cent drop so far. The USDA National Average Base Hog Price was $81.75 on Monday morning, down by a penny. The CME Lean Hog Index was $87.77 on 11/17, down by another 37 cents.
Pork cutout futures are trading 42 cents lower in Dec, with 47 to 80 cent gains in the nearbys. The USDA’s Pork Carcass Cutout was 56 cents higher to $94 flat. USDA’s estimated FI hog slaughter was 2.605m head for the week through Saturday. That compares to 2.50m head last week and 2.632m head from the same week last year.
Dec 22 Hogs are at $83.750, down $0.475,
Feb 23 Hogs are at $90.075, up $0.525
Dec 22 Pork Cutout is at $94.325, down $0.400,
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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