Hogs Mixed at Midday, as October is Slipping
Lean hog futures are down 10 cents on Thursday, with other contracts showing 20 to 40 cent midday gains. USDA’s national base hog price was reported at $107.34 in the Thursday AM report, down $2.50 from the day prior. The CME Lean Hog Index was down 49 cents at $108.57 on August 19.
This morning’s Export Sales report showed a total of 19,210 MT in pork sales during the week ending on August 14. Shipments were back up to a 5-week high at 28,558 MT.
USDA’s FOB plant pork cutout report from Thursday morning was down 35 cents at $112.66 per cwt. The rib and loin were higher with the rest reported lower. USDA estimated hog slaughter for the Wednesday at 480,000 head, with the weekly tally at 1.438 million head. That was 2,000 head below last week and down 11,525 head from the same week last year.
Oct 25 Hogs are at $89.850, down $0.100,
Dec 25 Hogs are at $83.175, up $0.200
Feb 26 Hogs is at $86.250, up $0.375,
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.