Lean hog futures posted Monday gains of 7 to 95 cents across the board as pork stocks were tallied at a 14-year low for September. The national average base hog price was reported at $80.95 on Monday afternoon, up $5.29 from the previous day. The CME Lean Hog Index was reported at $85.43 on October 24, up 23 cents from the day prior.Â
The monthly Cold Storage report showed a total of 460.141 million lbs of pork stocks at the end of September. That is the lowest for the month since 2010 but an albeit seasonal increase of 1.07% increase from the end of August.Â
USDA’s FOB plant pork cutout value was reported at $101.95 per cwt in the Monday PM release, up $3.01 from the day prior. All primals were reported higher, led by the loin (+$4.78) and belly (+$4.68). USDA estimated Monday’s FI hog slaughter at 488,000 head. That is even with the previous Monday and 13,045 head above than the same Monday last year.
Dec 24 Hogs  closed at $80.625, up $0.950,
Feb 25 Hogs  closed at $84.225, up $0.800
Apr 25 Hogs  closed at $87.125, up $0.475,
On the date of publication, Austin Schroeder 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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