After a strong start to the week, lean hog futures are back to trading lower for the week, and pushing the downside with another 25 to 55 cent losses through the front month contracts. Feb is trading near the low for the day at midday. USDA’s National Average Base Hog price was $63.81 for Tuesday afternoon, down by $2.28. The CME Lean Hog Index was 8 cents stronger on 11/13 to $76.13.
USDA’s National Pork Carcass Cutout Value fell by 17 cents in the Wednesday morning update, now at $87.43. USDA estimated the FI hog slaughter at 484k head for Tuesday, leaving the week’s total at 954k. That compares to 976k head last week and 970k head during the same week last year.
Dec 23 Hogs are at $71.725, down $0.575,
Feb 24 Hogs are at $75.375, down $0.550
Dec 23 Pork Cutout is at $82.275, up $0.250,
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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