Hogs Popping on Friday
Lean hog futures are trading with 70 cent to $1.05 gains so far on Friday. The national average base hog negotiated price was not reported on Friday morning, with 5-day rolling average at $87.84. The CME Lean Hog Index was reported at $83.93 on December 4, down 14 cents the previous day.
Year to date pork shipments have totaled 1.536 MT according to Export Sales data, which is up 6% from a year ago at the same time. Adding in unshipped sales for the total commitments show 1.706 MMT, which is 1.4% larger than last year.
USDA’s FOB plant pork cutout value reported higher on Friday AM, up $3.05 at $91.69 per cwt. Just the rib was reported lower, with the belly the driver to the upside, $7.17 higher. USDA estimated Thursday’s FI hog slaughter at 489,000 head, taking the weekly total to 1.954 million head. That was up 11,678 head from the same week last year.
Dec 24 Hogs are at $83.175, up $0.750,
Feb 25 Hogs are at $87.400, up $1.050
Apr 25 Hogs is at $91.850, up $0.700,
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.