Lean hog futures posted Wednesday gains of $1.95 to $2.50 as bulls were catching some pre-Black Friday sales. USDA’s national base hog price was not reported on Friday morning due to light volume. The CME Lean Hog Index was down another 54 cents on November 25 at $82.27.
Export Sales data suggested 28,038 MT of pork sales in the week of 10/16, a 5-week low. Shipments were tallied at a 17-week high of 30,329 MT.
USDA’s pork carcass cutout value from the Friday morning report was up 50 cents to $94.75 per cwt. The picnic was the only primal reported lower. USDA estimated federally inspected hog slaughter for Wednesday at 487,000 head, taking the weekly total to 1.474 million head. That is 8,000 head below last week and down 340 head from same week last year.
Dec 25 Hogs are at $80.750, up $0.325,
Feb 26 Hogs are at $81.475, up $0.100
Apr 26 Hogs is at $85.425, up $0.075,
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.
