
Lean hog futures are working with $0.50 to $1.37 gains so far, though Dec is UNCH. The AM National Average Base Hog price was $1.68 stronger to $59.76. The CME Lean Hog Index for 11/27 was $71.66, down by another 67 cents.
Weekly Export Sales data had pork bookings at 21,174 MT sold during the week that ended 11/23. That was a draw down from 26k sold last week but was up 5% from the same week last year. The report showed Mexico was the top buyer. Weekly pork exports were 27,842 MT, brining the season total to 1.416 MMT. That is 5% ahead of last year’s pace.
The National Pork Carcass Cutout Value was $1.25 weaker to $82.72. USDA estimated the week’s FI hog slaughter at 1.444 million head through Wednesday. That is 22k more than last week’s pace but 22k below the same week last year.
Dec 23 Hogs are at $69.000, up $0.025,
Feb 24 Hogs are at $71.475, up $1.375
Dec 23 Pork Cutout is at $81.000, up $0.375,
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.