Hogs Continue Gains into Friday
Lean hog futures are showing continued strength on Friday, with contracts up 87 cents to $1.10. USDA’s national base hog report from Friday AM showed negotiated prices at $100.88, down $4.94. The CME Lean Hog Index was up a nickel on September 3 at $105.97.
Export Sales Data showed pork bookings backing off to 23,711 MT in the week of 8/28, back down from the last week. Shipments were back up from last week at 26,570 MT.
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USDA’s FOB plant pork cutout report from Friday morning was back up $2.60 at $115.92 per cwt. The rib and butt primals were the only reported lower. USDA estimated hog slaughter for Thursday at 489,000 head, with the week to date total at 1.461 million. That is 7,196 head above the same holiday week last year.
Oct 25 Hogs are at $96.000, up $0.975,
Dec 25 Hogs are at $88.400, up $1.100
Feb 26 Hogs is at $90.375, up $0.875,
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.
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