Hogs Posting Gains Following Cutout Strength
Lean hog futures are trading with midday gains of 45 cents to $1. The national average base hog price was reported at $74.42 on Friday morning, down 93 cents from the previous day. The CME Lean Hog Index was reported at $85.20 on October 23, up 54 cents from the day prior.
USDA’s FOB plant pork cutout value was reported at $101.55 per cwt in the Friday AM release, up a sharp $3.40 from the day prior. The ham and belly carried the load, with respective gains of $9.42 and $10.76. USDA estimated the Thursday FI hog slaughter at 487,000 head, with this week’s total at 1.952 million head. That is up 20,000 head from the previous week and 14,142 head larger than the same week last year.
Dec 24 Hogs are at $79.625, up $0.975,
Feb 25 Hogs are at $83.475, up $0.675
Apr 25 Hogs is at $86.700, up $0.450,
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.