Hogs Close with Strength on Monday
Lean hog futures rounded out the Monday session with most contracts 15 to 77 cents higher October was an exception, down a nickel. The national average base hog price was reported at $76.68 on Monday afternoon, up $1.79 from the previous day. The CME Lean Hog Index was reported at $84.83 on October 3, back down 7 cents from the day prior.
China pegs their August hog slaughter at 24.4 million head, which is a drop of 7.7% from the same month last year
USDA’s FOB plant pork cutout value was reported at $96.05 per cwt in the Monday PM release, up $1.74 from the day prior. The rib and ham were the only primals reported lower. USDA estimated FI hog slaughter for Monday at 488,000 head. That is up 3,000 head from the previous Monday and 6,606 head above the same Monday last year.
Oct 24 Hogs closed at $83.975, down $0.050,
Dec 24 Hogs closed at $76.825, up $0.675
Feb 25 Hogs closed at $80.600, up $0.775,
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.