After a cool-down on Thursday, the hog market is back to trading higher. Gains across the front months are limited to 40 cents, with some 2024 contracts sitting UNCH at midday. October futures are at a %1.95 gain for the week so far. Friday’s National Average Morning Base Hog price was $77.51, down by another 81 cents. The CME Lean Hog Index for 9/12 was $86.48, up by 35 cents.
Pork cutout futures are trading 10 to 42 cents higher so far, though April ’24 contracts are at a 75c loss at midday. ended the session $0.62 to $0.92 on the day. USDA’s National Pork Carcass Cutout Value dropped $1.43 on Friday to $97.66. USDA estimated the week’s FI hog slaughter at 1.905m head through Thursday, compared to 1.929m during the same week last year.
Oct 23 Hogs are at $83.450, up $0.100,
Dec 23 Hogs are at $75.450, up $0.350
Oct 23 Pork Cutout is at $94.675, up $0.025,
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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