Hogs are working on another triple digit loss through Wednesday’s midday. Futures are down $0.50 to $1.17. That has the October contract ~$1 above last week’s low. USDA’s National Average Base Hog price for Wednesday morning was 84 cents stronger to $90 flat. CME’s Lean Hog Index fell another 80 cents to $98.81 on 8/18.
Pork cutout futures are also in the red at midday, save for a 30c gain in the Oct contract. The National Pork Carcass Cutout Value dropped $1.64 this morning to $102.01. 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 are at $78.875, down $0.700,
Dec 23 Hogs are at $71.200, down $1.150
Oct 23 Pork Cutout is at $91.625, up $0.300,
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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