Lean hog futures slid another 7 to 42 cents in the front months on Monday. Feb contracts closed nearly a dollar off the low, which was the lowest print since mid-October. Dec hogs ended with a 37 cent gain ahead of Wednesday’s expiration. The National Average Afternoon Base Hog price for Monday afternoon was $1.39 weaker to $81.68. The CME Lean Hog Index was down by 48 cents on 12/8 to $81.99.
Pork cutout futures went home on Monday 7 to 35 cents in the red. USDA’s National Pork Carcass Cutout value was $86.94 in the PM report, down by $1.62. USDA estimated Monday’s FI hog slaughter at 490k head, which is up by 7k head from last week and up by 5k head during the same week last year.
Dec 22 Hogs closed at $81.950, up $0.375,
Feb 23 Hogs closed at $83.700, down $0.300
Dec 22 Pork Cutout closed at $86.825, down $0.275,
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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