Pig grazing in field
Lean hogs were down 17 to 27 cents in the back months, though the October and Dec contract held on for 12 and 47 cent gains respectively. The National Average Base Hog quote for Tuesday afternoon was $78.19. CME’s Lean Hog Index was $1.41 lower on 8/30 to $89.26.
Pork cutout futures were mixed with 57 cent gains to 30 cent losses. USDA’s National Pork Carcass Cutout Value was shown as $98.87 in the PM update, up by $5.17 on an $18.06 stronger bellies quote. USDA estimated the week’s FI hog slaughter at 484k head, including 2k for Monday. That is 5k head lighter than the same week last year.
Oct 23 Hogs closed at $83.175, up $0.125,
Dec 23 Hogs closed at $75.075, up $0.475
Oct 23 Pork Cutout closed at $94.100, down $0.025,
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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