Midday hog prices are 70 to 85 cents in the red following a triple digit rally to start the week. USDA’s National Average Base Hog price was listed at $64.22 for Tuesday morning, no comparison to yesterday’s AM quote. The Monday afternoon price was $66.09. The CME Lean Hog Index was 23 cents lower to $76.05 on 11/10.
USDA’s National Pork Carcass Cutout Value increased $1 to $87.77 on Tuesday morning. The CME Fresh Bacon Index was listed at $139.01, from $137.44 the week prior. USDA estimated the FI hog slaughter at 488k head for Monday, compared to 487k last week and 486k head during the same week last year.
Dec 23 Hogs are at $72.525, down $0.825,
Feb 24 Hogs are at $76.200, down $0.825
Dec 23 Pork Cutout is at $82.950, up $0.900,
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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