Following a $9 pullback over the past 9 sessions, the hog futures are mostly higher on Wednesday. The Dec contract is 30c higher, while June ’24 futures are down 57c. USDA’s National Average Base Hog price was $3.18 weaker on Tuesday to $71.24. The CME Lean Hog Index for 9/29 was 74 cents weaker to $84.84.
Pork cutout futures are also mixed with $1 losses in the deferred contracts, though 25 cents higher in October. USDA’s National Pork Carcass Cutout Value was up $1.14 on Wednesday morning to $95.75. USDA estimated Tuesday’s federally inspected hog slaughter at 487,000 head. That set the week’s pace at 973k head, compared to 956k LW and 951k LY.
Oct 23 Hogs are at $79.900, down $0.075,
Dec 23 Hogs are at $69.100, up $0.025
Oct 23 Pork Cutout is at $91.575, up $0.250,
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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