
Dec hogs are back up by 90 cents on a Turnaround Tuesday after being the only contract month to settle lower yesterday. Feb and April show gains as well, but the deferred months are down 15 to 30 cents. The June contract is still a $21.67 premium to Dec and a $15.70 premium to Feb. The USDA National Average Morning Base Hog Price was $82.06 for Tuesday which was 31 cents higher. The CME Lean Hog Index for 11/18 was $86.97, down by 80 cents but still premium to the futures.
Pork cutout futures are higher at midday with gains of as much as 52 cents across the front months. The USDA’s Pork Carcass Cutout was $1.72 higher in the AM report to $93.71. 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 are at $84.700, up $0.900,
Feb 23 Hogs are at $90.850, up $0.700
Dec 22 Pork Cutout is at $94.775, up $0.425,
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.