Lean hog futures are currently $0.82 to $1.50 stronger. USDA’s National Average Base Hog price was withheld on Monday morning for confidentiality, from $65.95 on Friday afternoon. The 11/08 CME Lean Hog Index was $76.87, up by another 18 cents.
USDA’s National Pork Carcass Cutout Value was 96 weaker on Monday morning to $88.46. USDA reported the week’s pork production at 546.1 million lbs. That compares to 564.2m last week and 537.7 during the same week last year. That put the yearly production at 23.375 billion lbs – +0.3% yr/yr. Hog slaughter was listed at 2.576m head for the week, 3.6% behind last week but 3% more than the same week last year. The YTD total, at 109.773m head, remains 1.5% ahead of last year’s pace.
Dec 23 Hogs are at $73.275, up $1.375,
Feb 24 Hogs are at $76.725, up $1.150
Dec 23 Pork Cutout is at $82.000, down $0.050,
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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