Lean hogs continue to firm up on Friday with another triple digit recovery. Dec hogs are up 1.4% so far and sit at a net $1.50 gain for the week. Dec futures were at their lowest price since May on Wednesday. USDA’s National Average Base Hog price was $74.88 on Friday morning, from $70.29 on Thursday afternoon. The 10/04 CME Lean Hog Index was $83.7, down by another 58 cents.
Pork cutout futures are also higher with 0.8% to 3.6% gains through midday. USDA’s National Pork Carcass Cutout Value was shown at $96.39 on Friday morning, up by $1.41. USDA estimated the week’s FI hog slaughter at 1.935 million head. That is 12k head ahead of last week’s pace and is up 6k head yr/yr.
Oct 23 Hogs are at $82.175, up $1.275,
Dec 23 Hogs are at $73.300, up $1.025
Oct 23 Pork Cutout is at $92.100, up $0.075,
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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