Lean Hog are pulling back into the weekend, with contracts down 45 cents to $1.10 at midday. The national average base hog negotiated price was reported at $82.87 on Friday morning, down $4.31 from the day prior. The CME Lean Hog Index was reported at $89.78 on November 13, back down 16 cents from the previous day.
Weekly Export Sales data indicated net sales of 19,825 MT of pork in the week of November 7. Export shipments were back down from last week’s 26-week high at 31,087 MT.
USDA’s FOB plant pork cutout value back higher in the Friday AM report, up $4.45 at $98.52 per cwt. All primals were reported higher, with the belly back up after yesterday’s dump, $22.12 higher. USDA estimated Thursday’s FI hog slaughter at 488,000 head, with the week to date total at 1.924 million head. That is 28,000 head below last week but up 2,343 head from the same week last year.
Dec 24 Hogs are at $79.625, down $0.475,
Feb 25 Hogs are at $82.900, down $0.875
Apr 25 Hogs is at $87.100, down $1.025,
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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