Hogs are trading with 55 cents to $2.82 lower on the short Friday session 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.
USDA's Export Sales report showed 26,330 MT of pork sold for export during the week of November 16th. That was up vs. the previous week, but still on the low end of the MY. Actual export shipments came in at 32,184 MT that was the second largest total for any week since August.
NASS 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 October total since 2004.
Pork cutout futures are up a few ticks. The National Pork Carcass Cutout Value will be released later this morning. It 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 are at $67.725, down $0.550,
Feb 24 Hogs are at $69.350, down $2.475
Dec 23 Pork Cutout is 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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