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Hogs Mostly Higher on Friday
Lean hog futures are trading with contracts up 50 to 75 cents at midday, with soon to expire October down a tick. The national average base hog price was not reported on Friday morning due to light volume, with the 5-day rolling average at $75.52. The CME Lean Hog Index was reported at $84.47 on October 9, steady with the day prior. USDA’s FOB plant pork cutout value was reported at $95.37 per cwt in the Friday AM release, back up 50 cents from the day prior. The picnic and loin were the only primals reported lower. USDA estimated FI hog slaughter for Thursday at 487,000 head, with the week to date total at 1.928 million head. That is down 5,000 head from the previous week and 7,361 head below the same week last year. Oct 24 Hogs are at $84.000, down $0.025, Dec 24 Hogs are at $77.700, up $0.750 Feb 25 Hogs is at $81.075, up $0.675, 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. |
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