Hogs settled with losses of $2 to $3.30 on Friday, with Dec down 70 cents. USDA’s National Average Base Hog price was reported at an average price of 57.49 on Friday afternoon on very light action, which was another $5.48 lower than Wednesday. The CME Lean Hog Index for 11/21 was down another 28 cents to $73.90.
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.
December pork cutout futures were down 17 cents. The National Pork Carcass Cutout Value was down another 51 cents in the Friday PM report at $84.17. The picnic and ham were the only primals reported lower. USDA estimated FI hog slaughter at 462,000 for Friday and 335,000 head for Saturday, bringing the WTD total to 2.221 million head. That is a11,000 increase from the same week last year. On the year, total slaughter is at 114.635 million head, a 1.5% increase vs. a year ago.
Dec 23 Hogs closed at $67.575, down $0.700,
Feb 24 Hogs closed at $68.775, down $3.050
Dec 23 Pork Cutout closed at $79.700, down $0.175,
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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