Lean Hogs futures are posting Tuesday losses of 85 cents to $1 so far in the nearbys at midday. The national average base hog negotiated price was down $1.12 in the Tuesday AM report at $82.00. The CME Lean Hog Index was reported at $88.49 on November 15, down another 78 cents from the previous day.
USDA’s FOB plant pork cutout value reported lower on Tuesday morning, down 4 cents at $97.07 per cwt. The rib and ham primals were the only reported higher, with the belly leading the charge to the downside, $8.34 lower. USDA estimated the Monday FI hog slaughter at 489,000 head. That is 41,000 head above last Monday and up 2,596 head from the same Monday last year.
Dec 24 Hogs are at $79.050, down $0.975,
Feb 25 Hogs are at $82.275, down $1.000
Apr 25 Hogs is at $86.575, down $0.850,
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.