Lean hog futures are posting losses of $2.50 at midday, with soon to expire dec up a nickel. The national average base hog negotiated price was reported at $80.58 on Tuesday morning, which is down $1.85 from the day prior. The CME Lean Hog Index was reported at $83.46 on December 6, down 27 cents from the previous day.
USDA’s FOB plant pork cutout value reported lower on Tuesday AM, down 89 cents at $93.63 per cwt. Just the loin and belly were reported higher, with the rib the driver to the downside, $9.56 lower. USDA estimated the Monday FI hog slaughter at 489,000 head. That was even with last Monday and up 16,483 head from the Monday last year.
Dec 24 Hogs are at $82.950, up $0.050,
Feb 25 Hogs are at $84.000, down $2.500
Apr 25 Hogs is at $88.700, down $2.500,
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. More news from Barchart- Where are Animal Protein Prices Heading as the Offseason for Demand Approaches?
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