Hogs Falling on Friday
Lean hog futures are showing losses of $1 to $1.60 in the nearby contracts at Friday’s midday. The national average base hog price was down $2.51 at $82.60 on Friday AM. The CME Lean Hog Index was $90.20 on August 14, up 2 cents from the previous day.
Vice President Harris is expected to release her economic agenda later today, which is expected to include a ban on price gouging for grocery stores.
USDA’s FOB plant pork cutout value was back down 95 cents in the Friday AM report at $98.92 per cwt. The picnic and rib primals were the only reported higher, with the belly leading the way lower, down $4.33. USDA estimated the Thursday FI hog slaughter at 479,000 head bringing the week to date total to 1.925 million head. That is 82,000 head above the previous week and 33,270 head larger than the same week last year.
Oct 24 Hogs are at $74.900, down $1.600,
Dec 24 Hogs are at $66.875, down $1.350
Feb 25 Hogs is at $70.775, down $0.975,
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.
