Hogs posted losses of 97 cents to $2.72 across the board on Tuesday. USDA’s National Average Base Hog price was down $6.19 on Tuesday afternoon to an average price of $61.03. The CME Lean Hog Index for 11/17 was down another 57 cents to $74.52.
The Chinese sow herd was tallied at 42.1 million head at the end of October according to ag ministry. That is a surplus compared to what is needed, with the higher production rate for sows and smaller than expected pork production in the country.
Pork cutout futures were down $1.37. The National Pork Carcass Cutout Value was back down 88 cents in the Tuesday afternoon report release at $85.21. The belly was the only cut reported higher (+67 cents), with all 5 other primals down anywhere from 41 cents to $2.06. USDA estimated FI hog slaughter at 486,000 for Tuesday, bringing the WTD total to 972,000 head. That is a 13,000 increase over last week, but down 6,000 head from the same week to date numbers last year.
Dec 23 Hogs closed at $68.175, down $2.175,
Feb 24 Hogs closed at $72.325, down $2.725
Dec 23 Pork Cutout closed at $79.850, down $1.425,
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.
/Apple%20logo%20on%20store%20front%20by%20frantic00%20via%20iStock.jpg)
