Hogs Fall on Tuesday
The hog market closed with nickel to $2.10 losses on Tuesday. The national average base hog price was reported at $83.37 on Tuesday afternoon, a $5.87 increase from the previous afternoon. The CME Lean Hog Index was reported at $89.38 on November 1, up 86 cents from the day prior.
Converted Census data to a carcass basis shows September pork exports at 549.2 million lbs. That is a record for the month, up 7.3% from last year, but 2% below the August total.
USDA’s FOB plant pork cutout value was down $2.58 from the day prior in the Tuesday PM report at $101.43 per cwt. The loin, butt, ham, and belly primals were reported lower. USDA estimated the Tuesday FI hog slaughter at 488,000 head, with the weekly total at 977,000. That is 1,000 head above the previous week and 766 head larger than the same week last year.
Dec 24 Hogs closed at $81.125, down $2.100,
Feb 25 Hogs closed at $84.500, down $0.825
Apr 25 Hogs closed at $88.100, down $0.500,
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.
