Hogs Close with Weakness on Monday
Lean hog futures ended the Monday session with most contracts down 17 cents to $2.05, led by the nearbys. The national average base hog negotiated price was reported at $79.39 on Monday afternoon, which was up 46 cents from the day prior. The CME Lean Hog Index was reported at $83.90 on December 12, down 2 cents from the previous day.
USDA’s FOB plant pork cutout value reported back higher on Monday PM, up 92 cents at $95.53 per cwt. The rib was the driver to the upside, up $8.53, as the picnic and ham primals were reported lower. USDA estimated the Monday FI hog slaughter at 487,000 head. That was 2,000 head below last week and up 7,777 head from the same Monday last year.
Feb 25 Hogs closed at $83.550, down $2.050,
Apr 25 Hogs closed at $88.250, down $1.500
May 25 Hogs closed at $91.975, down $1.150,
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. More news from Barchart