Lean hogs are off their highs by ~30 cents so far, though are still adding to the sharp gain yesterday. USDA’s National Average Base Hog price for Friday morning was 80 cents weaker to $48.43. The CME Lean Hog Index was 83 cents lower on 12/08 to $67.93.
USDA’s FAS reported 28,167 MT of pork was sold for export during the week that ended 12/07. That was a 4-wk high. The week’s shipments were 36,077 MT, a 29-wk high, which left the yearly total at 1.485 MMT. That compares to 1.409 MMT last year.
The Friday morning National Pork Carcass Cutout Value was $86.31, up by $2.74 given the $17.57 increase for bellies. USDA’s FI hog slaughter was estimated at 1.914 million head for the week through Thursday. That is 32k head less than last week and 16k head behind the same week last year.
Feb 24 Hogs are at $71.725, up $1.250,
April 24 Hogs are at $78.175, up $1.000
Feb 24 Pork Cutout is at $81.725, unch,,
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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