Hog futures ended the session with $0.80 to $2.02 higher. USDA’s National Average Base Hog price was $3.03 weaker in the PM report to $84.62. CME’s Lean Hog Index was another $1.22 lower on 8/24 at $96.40.
China’s Ministry of Ag reported the sow herd at 42.71m head. That came down 0.6% for mo/mo July, and was 0.6% lighter than July ’22.
Pork cutout futures also closed stronger on the first day out of the weekend $0.47 to $2 higher. USDA’s National Pork Carcass Cutout Value was back up by $2.63 on Monday afternoon. The CME Fresh Bacon Index was $21.08 weaker in the 8/25 update to $234.56. USDA estimated Monday’s FI hog slaughter at 476k head, 5k more than last week but 6k head under the same week last year.
Oct 23 Hogs closed at $81.850, up $2.025,
Dec 23 Hogs closed at $73.425, up $1.400
Oct 23 Pork Cutout closed at $93.100, up $2.000,
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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