Lean hog futures are mixed with December down 35 cents and other contracts up 17 to 27 cents. The national average base hog negotiated price was at $87.36 in the Wednesday morning report, down 33 cents from the day prior. The CME Lean Hog Index was reported at $85.90 on November 25, down another 56 cents from the previous day.
USDA’s FOB plant pork cutout value reported lower on Wednesday AM, down $1.90 at $89.25 per cwt. The rib, ham, and belly primals were all reported lower, with the latter two leading the charge, down $6.00 and $7.92 respectively. USDA estimated Tuesday’s FI hog slaughter at 489,000 head, taking the WTD total to 978. That is even with last week and 19,628 head above the same week last year.
Dec 24 Hogs are at $82.750, down $0.350,
Feb 25 Hogs are at $88.450, up $0.175
Apr 25 Hogs is at $91.850, up $0.275,
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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