Hogs Closed Mostly Lower on Monday
Front month lean hog futures finished the session with a 17 cent gain in the Dec contract but 2 to 30c losses in the other nearby contracts. The National Average Base Hog price was listed at $73.42, up by $3.85. The 10/19 CME Lean Hog Index was another 66 cents weaker to $79.79.
China’s Ag Ministry reported 42.4m head for the Sep sow herd. That was unchanged through the month but was +3.4% of “normal”.
Pork cutout futures closed 5 to 42 cents lower on the day, but off the session lows. USDA reported the National Pork Carcass Cutout Value at $88.55 on Monday afternoon, up by 58 cents. Bellies were shown at $109.80. CME’s Fresh Bacon Index was $145.48, down by nearly $10 for the week. USDA had the Monday FI hog slaughter at 486k head, compared to 480k last week and 482k during the same week last year.
Dec 23 Hogs closed at $66.175, up $0.175,
Feb 24 Hogs closed at $70.200, down $0.225
Dec 23 Pork Cutout closed at $76.200, down $0.050,
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.
