Front month hog futures are up by 17 to 45 cents, though October is rallying triple digits as it is set to take over as the lead month after Monday’s session. USDA’s National Average Base Hog price for Thursday afternoon fell $3.58 to $95.98. The CME Lean Hog Index was $104.34 on 8/8, down by another 24 cents.
The pork cutout futures are mostly lower with triple digit losses, though again the October contract is rallying through midday. The National Pork Carcass Cutout Value increased $3.89 to $113.01. USDA estimated FI hog slaughter for the week through Thursday at 1.824m head. That is 66k head lighter than last week and trails the same week last year by 47k head.
Oct 23 Hogs are at $81.375, up $1.050,
Dec 23 Hogs are at $74.275, up $0.500
Oct 23 Pork Cutout is at $91.350, up $0.750,
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. For more information please view the Barchart Disclosure Policy here.
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