Hogs posted mixed action on light trade on the Wednesday session, with futures anywhere from 50 cents lower, to 15 cents in the green. USDA’s National Average Base Hog price slipped another $1.84 lower on Wednesday afternoon, with the average price at $62.97. The CME Lean Hog Index for 11/20 was down another 34 cents to $74.18.
Cold Storage data showed 435.94 million lbs of pork stocks at the end of October, down 5.57% from September on a seasonal shift. That was a 14.47% drop from last year and the lowest Oct total since 2004.
Pork cutout futures were a tick. The National Pork Carcass Cutout Value was down 53 cents in the Wednesday PM report at $84.68. The picnic and butt were the only primals reported higher. USDA estimated FI hog slaughter at 450,000 for Wednesday, bringing the WTD total to 1.422 million head. That is a 8,000 drop vs. last week, and down 6,000 head from the same week to date numbers last year.
Dec 23 Hogs closed at $68.275, up $0.100,
Feb 24 Hogs closed at $71.825, down $0.500
Dec 23 Pork Cutout closed at $79.875, up $0.025,
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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