Hogs faded $1.47 to $3.60 on Tuesday, erasing both Friday and Monday’s gains. Dec hogs were the outlier with a 20 cent gain on the day as they stick close to the Index. The 12/02 CME Lean Hog Index was $82.79, down by another 8 cents. The National Average Base Hog price was 43 cents higher on Tuesday to $82.12.
Converted Census data had the official October pork export at 539.7m lbs. That was 5.2% above September but was even with October 2021.
Pork cutout futures also dropped sharply on Tuesday with $2.22 to $3.15 losses. USDA’s National Pork Carcass Cutout value for Tuesday was $3.36 higher at $89.82. USDA estimated Tuesday’s FI hog slaughter at 491k head. That set the week’s pace at 974k head after Monday was revised lower. Last week was running at 980k head and the same week last year had 926k head harvested through Tuesday.
Dec 22 Hogs closed at $82.275, up $0.200,
Feb 23 Hogs closed at $86.925, down $3.600
Dec 22 Pork Cutout closed at $89.200, down $0.400,
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.
/AI%20(artificial%20intelligence)/Data%20Center%20by%20Caureem%20via%20Shutterstock%20(2).jpg)
/PayPal%20Holdings%20Inc%20HQ%20photo-by%20bennymarty%20via%20iStock.jpg)
/Micron%20Technology%20Inc_%20logo%20on%20building-by%20vzphotos%20vis%20iStock.jpg)
