Lean hog futures are posting 35 to $1.35 gains across most contracts at midday. USDA’s national base hog report from Thursday morning saw trade averaging $107.64, up 22 cents from the day prior. The CME Lean Hog Index was down another 6 cents on September 9 at $105.93.
Export Sales data showed a total of 17,327 MT of pork sold in the week ending on 9/4, a 7-week low. Shipments were the lowest since mid-January at 23,358 MT.
USDA’s FOB plant pork cutout report from Thursday morning was back down $0.91 at $113.86 per cwt. The rib and belly primals were the only reported lower. USDA estimated federally inspected hog slaughter for Wednesday at 490,000 head, taking the week’s total at 1.46 million head. That is well above last week’s holiday and 6,561 head above the same week last year.
Oct 25 Hogs are at $98.150, up $1.325,
Dec 25 Hogs are at $89.075, up $0.800
Feb 26 Hogs is at $90.575, up $0.350,
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.
