Lean hog futures are up 60 to 70 cents across most contracts on Thursday. USDA’s national base hog price from Thursday morning was reported at $72.24. 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.
Large managed money speculators were holding a record net long position as of September 30 at 146,288 contracts according to government shutdown delayed CFTC data.
USDA’s pork carcass cutout value from the Thursday AM report was up 34 cents to $93.48 per cwt. The picnic and rib primals were the only reported lower. USDA estimated federally inspected hog slaughter for Wednesday at 494,000 head and the week to date total at 1.482 million head. That is 34,000 head above last week and up 13,911 head from same week last year.
Dec 25 Hogs are at $79.450, up $0.600,
Feb 26 Hogs are at $79.650, up $0.625
Apr 26 Hogs is at $83.775, up $0.700,
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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