Lean hog futures posted mixed action on Tuesday, with contracts down 20 to 45 cents higher. USDA’s national base hog price was reported at $73.25 in the Tuesday PM print. The CME Lean Hog Index was down another $1.20 on November 21 at $83.61.
Export Sales data for pork in the week ending on October 9 saw 288,676 MT of bookings. That was a 4-week low. Export Shipments were 28,506 MT, back down from the week prior.
CFTC data for the week ending on 10/14 showed managed money cutting 12,312 contracts from their net long position, at 28,928 as of that Tuesday.
USDA’s pork carcass cutout value from the Tuesday afternoon report was back down $1.53 to $93.25 per cwt. The ham primal was the only reported higher. USDA estimated federally inspected hog slaughter for Tuesday at 492,000 head, taking the weekly total to 987,000 head. That is 1,000 head below last week and up 2,192 head from same week last year.
Dec 25 Hogs closed at $78.450, up $0.250,
Feb 26 Hogs closed at $79.000, down $0.175
Apr 26 Hogs closed at $82.950, up $0.425,
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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