The market will back open this morning per normal, with an early close. Lean hog futures posted Wednesday gains of $1.95 to $2.50 as bulls were catching some pre-Black Friday sales. Preliminary open interest was down 2,231 contracts on Wednesday. USDA’s national base hog price was reported at $73.57 in the Wednesday PM report, up $1.85 from the day prior. The CME Lean Hog Index was down another 80 cents on November 24 at $82.81.
USDA’s pork carcass cutout value from the Wednesday afternoon report was back up $2 to $94.25 per cwt. All primals were reported higher. 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 closed at $80.425, up $1.975,
Feb 26 Hogs closed at $81.375, up $2.375
Apr 26 Hogs closed at $85.350, up $2.400,
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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