After the sharp selloff last week the lean hog futures market is down another $0.67 to $1.02. Dec hogs, which expire on Wednesday, are trading 47 cents higher through midday. The National Average Base Hog price for Monday morning 73 cents weaker to $81.78. The CME Lean Hog Index was down by 48 cents on 12/8 to $81.99.
Pork cutout futures are down by 37 to 62 cents in the contracts that are trading. USDA’s National Pork Carcass Cutout value dropped $1.69 in the AM report to $86.87. Ribs were up by $7.48, but the rest of the primals were lower to offset. USDA estimated the week’s FI hog slaughter through Saturday at 2.572m head. That is down 18k head from last week, but is just 4k head lighter yr/yr. The YTD running total is 118.124m head, compared to 121.541m last year.
Dec 22 Hogs are at $82.125, up $0.550,
Feb 23 Hogs are at $83.375, down $0.625
Dec 22 Pork Cutout is at $86.725, down $0.375,
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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