Triple Digit Strength in Hogs

The cash hog markets are strong, and with positive basis through the midweek round of price discovery. On the board the front months are $0.52 to $2.62 in the black, led by October. USDA’s National Average Base Hog shot $13.01 higher to $129.06 in the AM report, following a $7.56 boost to $124.75 on Tuesday evening. The 7/21 CME Lean Hog Index was $119.13 after a 91 cent boost. 

Front month pork cutout futures are also trading triple digits higher, with gains of as much as $2.57 so far. USDA’s National Pork Carcass Cutout Value for Wednesday morning was $1.19 weaker to $125.58. FI hog slaughter is estimated at 467k head for Tuesday. That see the week to date as 917k head, compared to 909k last week and 939k head during the same week last year.

Aug 22 Hogs  are at $118.675, up $1.700,

Oct 22 Hogs  are at $96.300, up $2.650

Oct 22 Pork Cutout  is at $107.750, up $2.575,