Thursday hog futures are trading $1.87 to $3.27 so far going into the NASS Hogs and Pigs update USDA’s National Average Base Hog price fell 37 cents to $76.62 on Wednesday afternoon. The Tuesday afternoon quote was $76.88. CME’s 9/25 Lean Hog Index was 39 cents lower to $86.31.
USDA’s Export Sales report had 27,402 MT of pork bookings for the week that ended 9/21. That was 9% lower for the week and was 20% lower yr/yr. Pork shipments were 30k MT for the week, bringing the yearly total to 1.15 MMT.
Pork cutout futures are trading $0.35 to $3.07 in the black so far. USDA had the National Pork Carcass Cutout Value 52 cents weaker on Wednesday afternoon to $97.76. USDA estimates the weekly FI hog slaughter at 1.442m head for the week through Wednesday. That is down by 12k head for the week and is 6k head lower yr/yr.
Oct 23 Hogs are at $83.875, up $1.750,
Dec 23 Hogs are at $75.800, up $3.025
Oct 23 Pork Cutout is at $93.975, up $1.325,
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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