Lean hog futures are 22 to 60 points in the green ahead of the Tuesday afternoon Hogs and Pigs report. USDA’s national base hog price was reported at $68.02 on Tuesday morning. The CME Lean Hog Index was down 2 cents on December 19 at $83.71.
NASS will release their quarterly Hogs & Pigs report this afternoon, with analysts looking for December 1 hog inventory down 0.9% from last year. Hogs kept for breeding are seen down 0.9%, with market hogs expected to be down 0.8%.
Export Sales data from this morning showed a total of 18,428 MT of pork sold in the week ending on December 11, a 14-week low. Shipments were tallied at 33,588 MT, the largest since June.
USDA’s pork carcass cutout value from the Tuesday AM report was $1.42 lower at $96.99 per cwt. The loin and rib were the only primals reported higher. USDA estimated federally inspected hog slaughter for Monday at 496,000 head. That was 17,000 head larger than last Monday and 6,295 head above the same week last year.
Feb 26 Hogs are at $85.950, up $0.600,
Apr 26 Hogs are at $90.225, up $0.350
May 26 Hogs is at $93.825, up $0.225,
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.
