Hogs are down again this morning, with February taking the biggest hit. Nearby December is just trying to stay close to the index at expiration. The 12/06 CME Lean Hog Index was $82.78, down 16 cents. The weighted average price for negotiated sale hogs this morning was $80.99, down $4.32.Â
Pork export bookings in the week that ended on 12/1 were tallied at a net reduction of 7,919 MT, a MY low. The cancellations were mainly Japan, Australia, South Korea, and Canada. Shipments were 9.4% larger than last week at 32,517 MT.
Pork cutout futures are mostly lower by double digits, with December down $1.02. 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 | are at $81.575, down $0.800, |
| Feb 23 Hogs | are at $83.350, down $3.300 |
| Dec 22 Pork Cutout | is at $87.100, down $1.025, |
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