Hogs are trading $0.42 to $1.20 in the red so far for the new week. Last week the December contract netted a $1.80 gain. USDA’s National Average Base Hog price was $73.92 on Friday afternoon, up $3.63 on the day. The 10/04 CME Lean Hog Index was $83.7, down by another 58 cents.
Pork cutout futures are also down by triple digits with losses of as much as $1.40 so far. USDA’s National Pork Carcass Cutout Value was $93.22 in the Friday PM report, down by $1.76. USDA estimated the week’s FI hog slaughter at 2.564m head through Saturday. Weekly pork production was 0.8% below last week and 2.7% lighter than last year. Slaughter was 1.3% lighter for the week, though just 0.2% lower yr/yr indicating lighter carcasses. The year to date pork production remains 0.1% ahead of last year’s volume, and slaughter remains 1.3% ahead of last year’s pace.
Oct 23 Hogs are at $81.825, down $0.500,
Dec 23 Hogs are at $71.925, down $1.650
Oct 23 Pork Cutout is at $92.850, down $1.050,
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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