Lean hogs are mostly 50 cents in the red, save for the lead month October contract with a $1.10 loss at midday. The National Average Base Hog quote increased $1.13 to $80.26. The 9/06 CME Lean Hog Index was 18 cents higher at $86.19.
USDA’s weekly Export Sales report had 26,266 MT of pork sold for the week that ended 8/31. That was down from the 17-wk high LW, and was 4k MT lighter than the 4-wk average. Pork shipments were reported at 30.53 MT for a season total of 1.075 MMT.
Pork cutout futures are currently down by as much as 92 cents, save for the Dec contract which is up by $1.05 as the outlier in the thinly traded market. USDA’s National Pork Carcass Cutout Value increased by $5.62 in the AM report to $99.83. USDA estimated FI hog slaughter at 1.412 million head for the week through Thursday. That is down from 1.451m head during the same week last year.
Oct 23 Hogs are at $81.925, down $0.900,
Dec 23 Hogs are at $74.900, down $0.375
Oct 23 Pork Cutout is at $93.000, down $0.550,
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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