Piglets napping
Hog prices ended the Tuesday session $0.92 to $1.82 higher. That left the October contract at a net $1.71 gain for the week through the first two trading sessions. USDA’s National Average Morning Base Hog price for Tuesday fell 5 cents to $77.81. The 9/15 CME Lean Hog Index dropped by 12 cents to $86.81.
Pork cutout futures settled $1.17 to $1.60 higher on the day. USDA’s National Pork Carcass Cutout Value for Tuesday increased 17 cents to $101.13. USDA estimates the Tuesday FI hog slaughter at 484k head. That sets the week’s running total at 969,000, or +24k wk/wk and +2k from the same week last year.
Oct 23 Hogs closed at $84.850, up $1.600,
Dec 23 Hogs closed at $76.250, up $1.825
Oct 23 Pork Cutout closed at $95.875, up $1.450,
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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