Piglets in a_ pasture
Hog futures are another $0.65 to $1 in the red through Tuesday’s midday. The National Average Base Hog price was $2.75 stronger in the PM update to $74.82. The CME Lean Hog Index was $82.11 on 10/12, down by 31 cents.
Pork cutout futures are trading $0.80 to $1.12 in the red so far. USDA’s National Pork Carcass Cutout Value fell $1.93 to $89.29 led by a $10.53 drop in the bellies. The CME Fresh Bacon Index on 10/13 was $155.19, down $8.81. USDA estimated the FI hog slaughter at 485k for Monday. That is 1k head below last week and is 2k less than the same week last year.
Dec 23 Hogs are at $67.650, down $0.650,
Feb 24 Hogs are at $72.150, down $0.925
Dec 23 Pork Cutout is at $77.250, down $0.800,
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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