Following the sharp losses on Thursday, the Friday market has hogs another triple digits lower. Dec futures are again leading the way on a 2.9% pullback to follow the limit loss yesterday. USDA’s National Average Base Hog price was listed at $77.95 for Friday morning, with no comparison to yesterday’s AM quote. The CME Lean Hog Index for 9/19 was 9 cents higher to $86.67.
Pork cutout futures are currently 0.77% to 3.5% in the red. USDA’s National Pork Carcass Cutout Value for Friday morning was cited at $98.46 after another 29 cent drop. USDA estimated the week’s FI hog slaughter at 1.938 million head through Thursday. That is for the week at 1.454m head. That is 33k head above last week but is 2,000 head behind the same week last year.
Oct 23 Hogs are at $81.875, down $1.075,
Dec 23 Hogs are at $72.225, down $2.250
Oct 23 Pork Cutout is at $93.075, down $0.725,
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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