Lean hog futures are showing 52 cent to $2.325 higher trade on Tuesday, led by December. The national average base hog price was not reported again on Tuesday morning due to light volume, with the 5-day rolling average at $74.79. Monday saw some sharp strength. The CME Lean Hog Index was reported at $85.554 on October 25, up 12 cents from the day prior.
USDA’s FOB plant pork cutout value was up another 26 cents from the day prior in the Tuesday AM report at $102.21 per cwt. The loin and picnic were down $3.87 and $4.01 respectively, with all other primals up $1.23 to $5.96. USDA estimated Monday’s FI hog slaughter at 488,000 head. That is even with the previous Monday and 13,045 head above than the same Monday last year.
Dec 24 Hogs are at $82.950, up $2.325,
Feb 25 Hogs are at $85.375, up $1.150
Apr 25 Hogs is at $87.650, up $0.525,
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
