
Front month lean hog futures closed the last trade day before the Thanksgiving day break with losses. Feb was down the most with a $1.27 give back, and sits at a net 75 cent loss for the week to date. The other front months were 17 to 95 cents lower on the day. The USDA National Average Base Hog Price was down 84 cents to $86.61. The CME Lean Hog Index for 11/18 was $86.97, down by 80 cents but still premium to the futures.
Pork cutout futures closed the Wednesday session with $0.67 to $1.40 losses. The USDA’s Pork Carcass Cutout was $89.36 in the PM update, down by $1.94. USDA estimated FI hog slaughter at 1.437m head for the week through Wednesday. That is down 31k head wk/wk, but still 7k head above the same week last year’s pace.
Dec 22 Hogs closed at $83.950, down $0.300,
Feb 23 Hogs closed at $88.800, down $1.275
Dec 22 Pork Cutout closed at $93.200, down $1.400,
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.