After a red start to the week, lean hog futures are back up by triple digits through Wednesday’s midday. May prices are down by 32 cents while the rest of the board is $1.35 to $1.80 in the black. The USDA National Average Base Hog Price for Wednesday morning was $4.16 higher to $86.20. The CME Lean Hog Index was $85.56, down another 61 cents, on 11/23.
China reported their sow herd at 43.79m head as of October, which was up 0.7% yr/yr (itself a 6.6% increase from 2020), and compared to 43.48m head in September.
Pork cutout futures are also bouncing through midday, currently up 65 to 85 cents in the front months. USDA’s morning pork carcass cutout value was $2.52 higher to $88.20. USDA estimated Tuesday’s FI hog slaughter at 494,000 head, for a weekly running total of 987k. That is 7k head more wk/wk and is up from 962k during the same week last year.
Dec 22 Hogs are at $82.725, up $1.650,
Feb 23 Hogs are at $85.475, up $1.325
Dec 22 Pork Cutout is at $90.400, up $0.450,
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.
/AI%20(artificial%20intelligence)/3D%20Graphics%20Concept%20Big%20Data%20Center%20by%20Gorodenkoff%20via%20Shutterstock.jpg)
/Netflix%20on%20tv%20with%20remote%20by%20freestocks%20via%20Unsplash.jpg)
/Apple%20Inc%20logo%20on%20Apple%20store-by%20PhillDanze%20via%20iStock.jpg)
