After the hard drop to end last week, Monday’s hog trade is back up by 10 cents to $1.02 across the front months. USDA’s National Average Base Hog price was a penny lower to $77.94 on Monday morning. The CME Lean Hog Index was 9 cents lower to $87.08 on 9/21.
Pork cutout futures are currently 2 to 60 cents higher in the ’23 contracts while the thinly traded ’24 contracts are $2 in the red. USDA’s National Pork Carcass Cutout Value was $2.96 stronger to $100.22. USDA estimated this week’s FI hog slaughter at 2.537m head through Saturday. That is 6k head higher wk/wk but trailed the 2.555m head slaughter during the same week last year. The yearly pace remains 1.3% above last year with 91.486m head.
Oct 23 Hogs are at $81.575, up $0.050,
Dec 23 Hogs are at $72.575, up $0.400
Oct 23 Pork Cutout is at $92.800, up $0.600,
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.
/Broadcom%20Inc%20logo%20on%20building-by%20Poetra_%20RH%20via%20Shutterstock.jpg)
/Nvidia%20logo%20on%20phone%20screen%20with%20stock%20chart%20by%20xalien%20via%20Shutterstock.jpg)
