Hogs are showing contracts anywhere from 20 cents higher to 50 cents lower across most contracts. USDA’s National Average Base Hog price slipped another 89 cents lower on Wednesday morning, after Tuesday’s collapse, with the average price at $60.45. The CME Lean Hog Index for 11/20 was down another 34 cents to $74.18.
Pork cutout futures are up 25 cents. The National Pork Carcass Cutout Value was back up $1.88 in Wednesday morning’s report at $87.09. The loin and ham were the only primals reported lower, with the picnic leading the way, up $14.78. 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 are at $68.175, down $0.000,
Feb 24 Hogs are at $71.825, down $0.500
Dec 23 Pork Cutout is at $80.100, 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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