Hog Drop Another Triple Digits
Tuesday’s lean hog trade ended with $0.42 to $1.35 losses across the front month contracts. October was the outlier with a 12 cent gain for the day. USDA’s National Average Base Hog price was $3.18 weaker on Tuesday to $71.24. The CME Lean Hog Index for 9/29 was 74 cents weaker to $84.84.
Pork cutout futures finished the trade session $0.62 to $1.25 lower. October, again, was the outlier with a 25c gain on the day. USDA’s National Pork Carcass Cutout Value increased by 56 cents in the Tuesday AM report to $96.60. Bellies fell by $9.89. another $1.74 weaker to $70.63 on Tuesday afternoon. USDA estimated Tuedsay’s federally inspected hog slaughter at 487,000 head. That set the week’s pace at 973k head, compared to 956k LW and 951k LY.
Oct 23 Hogs closed at $79.975, up $0.125,
Dec 23 Hogs closed at $69.075, down $0.425
Oct 23 Pork Cutout closed at $91.575, up $0.250,
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.
