Midday Hogs Trading Mostly Higher
Hog futures are $0.97 to $1.62 in the black so far for Wednesday, save for the Dec contract which is 27 cents in the red. OI in the Dec contract is now 26.3k contracts. USDA’s National Average Base Hog price was $2.04 stronger at $61.44. The CME Lean Hog Index dropped by $1.27 to $72.33 on 11/24.
The National Pork Carcass Cutout Value was 39 cents stronger in the AM report to $85.19. USDA estimated FI hog slaughter for Tuesday at 484,000 head. After revising Monday lower, the week to date total is 960k head. That compares to 972k last week and 976k during the same week last year.
Dec 23 Hogs are at $68.875, down $0.050,
Feb 24 Hogs are at $70.125, up $1.100
Dec 23 Pork Cutout is at $80.150, down $0.825,
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.
