Cute pink pig looking in pasture
Lean hog futures closed near the highs for the day with $1.35 to $2.87 gains. That moved the October contract to a $3.77 gain for the week. Wednesday afternoon’s National Average Base Hog quote was $80.55, down by 86 cents. CME’s Lean Hog Index was $92.41 which was another $1.48 weaker.
Pork cutout futures settled the day $1.72 to $2.42 higher. USDA’s PM report was delayed; the AM National Pork Carcass Cutout Value was $94.76. USDA estimated the FI hog slaughter at 1.42m head for the week through Wednesday. That is up 9k from last week but 20k head lighter than the same week last year.
Oct 23 Hogs closed at $83.600, up $2.875,
Dec 23 Hogs closed at $75.100, up $2.275
Oct 23 Pork Cutout closed at $94.525, up $2.425,
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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