After initial follow through selling, the hog market firmed up for a positive midweek close. Feb stayed in the red and went home 27 cents weaker, but the other nearby contracts were 2 to77 cents higher on the day. The 12/03 CME Lean Hog Index was $82.94, up by 15 cents. The National Average Base Hog price was $2.56 higher in the PM report on Wednesday to $84.68.Â
Pork cutout futures stayed in the red as hogs bounced this afternoon. The front months settled $0.70 to $1.07 lower. USDA’s National Pork Carcass Cutout value dropped by $5.37 in the PM report to $84.45. The week’s federally inspected hog slaughter was estimated at 1.466 million head through Wednesday. That is 8k head behind last week’s pace, but is 63k head more than the same week last year. Â
Dec 22 Hogs  closed at $82.375, up $0.100,
Feb 23 Hogs  closed at $86.650, down $0.275
Dec 22 Pork Cutout  closed at $88.125, down $1.075,
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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