Mixed Midweek for Hog Futures

Alan Brugler Barchart Wed Dec 6, 2023
Piglets Sleeping Next to Each Other

Lean hog futures ended the midweek trading session with losses of as much as 15c. The Dec contract finished 72c higher as the expiration nears. The National Average Base Hog price was listed at $54.32 for Wednesday afternoon, up by 49 cents. The CME Lean Hog Index from 12/04 was $69.60, down by 24 cents. 

The monthly Census data put October pork shipments at 572.2 million lbs. That was a 12% increase from Sep and an 8 % increase from October ’22. The data showed the season’s total was 5.566 billion lbs, compared to 5.205 billion lbs from last year and 5.9 billion during 2021. 

The National Pork Carcass Cutout Value dropped $1.47 on Wednesday afternoon to $83.20. USDA reported the week’s FI hog slaughter at 1.458 million head through Wednesday. That is 14k head more than last week, but compares to 1.462m head during the same week last year.  

 

Dec 23 Hogs  closed at $67.550, up $0.725,

Feb 24 Hogs  closed at $69.300, down $0.050

Feb 24 Pork Cutout  closed at $81.250, unch,,


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.