The December hog contract worked lower on Monday, ended the day just 33 cents off the low for a 42 cent loss. The other nearby contracts were mostly mid-range at the close but printed 32 to 60 cent gains. The USDA National Average Base Hog Price was $82.16 this afternoon, up by 35 cents. The CME Lean Hog Index was $87.77 on 11/17, down by another 37 cents.
Pork cutout futures closed the Monday session $0.37 weaker in the December contract, but 45 to 60 cents higher in the other front months. The USDA’s Pork Carcass Cutout was $1.45 weaker in the PM report to $91.99, bellies were quoted at $111.83. CME’s Fresh Bacon Index for the week of 11/18 was $5.79 weaker to $156.28. USDA’s estimate for Monday’s FI hog slaughter is 488k head, up 3,000 from last week and 8,000 from the same week last year.
Dec 22 Hogs closed at $83.800, down $0.425,
Feb 23 Hogs closed at $90.150, up $0.600
Dec 22 Pork Cutout closed at $94.350, down $0.375,
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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