The hog futures rallied back from 95c losses to close the Thursday session with 2 to 72 cent gains. USDA’s National Average Base Hog price increased by 91 cents to $63.99. The CME Lean Hog Index increased by 7 cents to $76.06.
The weekly Export Sales data showed 24,296 MT of pork was booked during the week that ended 11/9. That was half of last week’s 28-wk high, but was near even with sales from the same week last year. Mexico was the top buyer with 8.5k MT. USDA reported the year’s accumulated pork commitments at 1.609 MMT – 10% ahead of last year’s pace.
USDA’s National Pork Carcass Cutout Value was 90 cents weaker to $85.92. USDA reported the FI hog slaughter at 1.918 million head for the week through Thursday. That is down from 1.933 million last week and 1.946 million during the same week last year.
Dec 23 Hogs closed at $71.475, up $0.425,
Feb 24 Hogs closed at $75.625, up $0.725
Dec 23 Pork Cutout closed at $81.450, up $0.000,
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.
