Lean hogs were 20 to 62 cents weaker yesterday, looking past October’s $1.30 drop. The National Average Base Hog quote was 94 cents higher to $79.13. CME’s Lean Hog Index for 9/4 was $86.56, down by $1.21.
July pork exports were 504.7 million lbs after converting Census data. That was up 4.2% from last year but dropped 13.6% from June.
Pork cutout futures ended Wednesday in similar fashion to the hogs, with 47 to 95 cent losses after the October contract’s $1.20 drop. USDA’s National Pork Carcass Cutout Value was 54 cents lower to $98.33 on Wednesday afternoon. USDA estimated the week’s FI hog slaughter at 952k head for the week through Wednesday. That is 24k head behind the same week last year.
Oct 23 Hogs closed at $81.875, down $1.300,
Dec 23 Hogs closed at $74.450, down $0.625
Oct 23 Pork Cutout closed at $92.925, down $1.175,
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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