
Front month hogs ended the session with $0.95 to $1.22 gains, leaving the Dec contract at a net $1.50 gain for the week. The Wednesday afternoon National Average Base Hog price fell 68 cents to $71.90. The CME Lean Hog Index dropped another 40 cents on 10/23 to $78.67.
Pork cutout futures closed $0.52 to $1.20 higher on Tuesday. USDA’s National Pork Carcass Cutout Value was $1 stronger to $87.59 on Wednesday, as bellies increased $7.36. USDA estimates the week’s FI hog slaughter as 1.455m head, up by 4k from last week by 4k head behind the same week last year.
Dec 23 Hogs closed at $67.500, up $1.125,
Feb 24 Hogs closed at $70.700, up $1.225
Dec 23 Pork Cutout closed at $77.400, up $1.200,
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.