Lean hog futures are fighting back on Friday with contracts up $1.15 to $1.40 as Dec rolls off the board today. The national average base hog negotiated price was reported at $78.36 on Friday morning, which was down 72 cents from the day prior. The CME Lean Hog Index was reported at $83.92 on December 11, up 31 cents from the previous day.
USDA’s FOB plant pork cutout value reported back higher on Friday AM, up $3.86 at $96.17 per cwt. The rib was the only cut reported lower, with the belly leading the upside charge, up $12.37, with the picnic up $8.19. USDA estimated the Thursday FI hog slaughter at 478,000 head, bringing the weekly total to 1.942 million head. That was 5,000 head above last week and up 25,654 head from the same week last year.
Dec 24 Hogs are at $83.725, up $0.175,
Feb 25 Hogs are at $85.625, up $1.150
Apr 25 Hogs is at $89.825, up $1.375,
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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