Lean hog futures settled the Thursday session with most contracts 30 to 65 cents higher. Open interest was down just 92 contracts on Thursday, suggesting a rotation of ownership. USDA’s national base hog price from Thursday afternoon was reported at $71.87, down $2.74 from the day prior. The CME Lean Hog Index was down another 40 cents on November 18 at $86.27.
Weekly export sales data showed 32,705 MT in the week of October 2, a drop from the previous week. Shipments were 29,209 MT in that week.
USDA’s pork carcass cutout value from the Thursday PM report was down $2.93 to $90.23 per cwt. The loin and ham primals were the only reported higher, with the belly dropping $16.77. USDA estimated federally inspected hog slaughter for Thursday at 494,000 head and the week to date total at 1.976 million head. That is 4,000 head above last week and up 30,598 head from same week last year.
Dec 25 Hogs closed at $79.475, up $0.625,
Feb 26 Hogs closed at $79.650, up $0.625
Apr 26 Hogs closed at $83.725, up $0.650,
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.
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