Hogs Weaker on Friday
Lean hogs are trading with 30 to 87 cent losses across most contracts The USDA National Base Hog price was not reported in the Friday AM print, with the 5-day rolling average at $85.14. The CME Lean Hog Index was $93.53 on July 31, up another 45 cents from the previous day.
USDA’s FOB plant pork cutout value was back up $2.89 in the Friday AM average carcass quote, at $108.75 per cwt. Just the ham and belly were reported higher, with the latter up a sharp $20.23. USDA estimated the Thursday FI hog slaughter at 481,000 head, taking the WTD total to 1.916 head. That is up 28,000 head from last week and 20,300 head above the same week a year ago.
Aug 24 Hogs are at $92.750, down $0.400,
Oct 24 Hogs are at $76.475, down $0.550
Dec 24 Hogs is at $68.825, down $0.500,
On the date of publication, Alan Brugler 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.