The front month lean hog futures fell $0.17 to $1.37 lower across the front months. That limited the weekly move to a net $1.32 gain for Feb hogs. Feb hogs rounded out the month of Nov with a $3.40 loss for the month after an incredibly wide trading range from $65.80-$77.77. The National Average Base Hog price for Thursday was $58.60, up by 54 cents. The CME Lean Hog Index was steady at $71.35 for 11/29.
The National Pork Carcass Cutout Value for Friday afternoon was 28 cents weaker, on mixed to mostly higher primals, to $83.55. USDA reported the week’s pork production was 577.7 million lbs on a 2.704m head harvest. That was up 3% (and 4.7%) from last year, as the YTD total exceeds last year by 0.4% on production and 1.6% on slaughter.
Dec 23 Hogs are at $68.850, up $0.075,
Feb 24 Hogs are at $70.275, down $1.200
Dec 23 Pork Cutout is at $81.750, up $1.000,
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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