Front month lean hogs are trading $0.10 to $0.17 in the red. Feb is the exception with a midday gain of 27 cents so far. USDA’s National Average Base Hog Price was withheld this morning due to confidentiality – on Friday afternoon it was $3.04 lower to $82.22. The 12/01 CME Lean Hog Index was $82.87, down by another 37 cents.
Pork cutout futures are within 20 cents of UNCH on light volume and OI to start the week. USDA’s National Pork Carcass Cutout value was 88 cents stronger in the AM report to $89.82. USDA estimates the week’s FI hog slaughter at 2.59m head through Saturday. That is down 66k head from the same week last year. YTD slaughter trails last year’s pace by 2.9%.
Dec 22 Hogs are at $82.325, down $0.100,
Feb 23 Hogs are at $90.925, up $0.500
Dec 22 Pork Cutout is at $89.900, up $0.075,
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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