Lean hog futures went home with triple digit losses out to June ’24. Feb was down the most with a $1.47 loss of 1.9%. Feb futures are still within last week’s range, but are otherwise at their lowest level since late May. USDA’s National Average Base Hog price dropped another $1.87 to $91.65. The CME Lean Hog Index dropped 80 cents to $98.81 on 8/18.
Pork cutout futures also dropped triple digits on the day with $1.05 to $1.32 losses. The National Pork Carcass Cutout Value for Tuesday afternoon was $1.56 weaker to $103.65. was $1.07 weaker in the AM report to $104.14. Bellies were down by $9.89. USDA’s estimate for FI hog slaughter was 476k head on Tuesday. That set the week to date total at 947k head after a slight downward revision to Monday. Last week’s pace was 937k and the same week last year was running 964k head.
Oct 23 Hogs closed at $79.575, down $1.050,
Dec 23 Hogs closed at $72.350, down $1.375
Oct 23 Pork Cutout closed at $91.325, down $1.050,
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.
/Broadcom%20Inc%20logo%20on%20building-by%20Poetra_%20RH%20via%20Shutterstock.jpg)
/A%20concept%20image%20of%20a%20flying%20car_%20Image%20by%20Phonlamai%20Photo%20via%20Shutterstock_.jpg)
/Tesla%20Inc%20logo%20by-%20baileystock%20via%20iStock(1).jpg)
