Name
Cash Bids
Market Data
News
Ag Commentary
Weather
Resources
|
Hogs Pulling Back on ThursdayLean hog are showing losses of a tick to 45 cents in the front months on Thursday. Preliminary open interest from Wednesday showed continued net new buying interest, up 6,624 contracts. The national average base hog price was not reported on Thursday morning on light volume, with the 5-dy rolling average at $83. The CME Lean Hog Index was reported at $85.78 on October 29, up 5 cents from the day prior. Pork export sales totaled 44,838 MT in the week of October 24, a 3-week high. Mexico was the top buyer of 17,700 MT, with 10,400 MT sold to China. Export shipments totaled 32,268 MT, slightly above last week’s total. Of that total, 11,400 MT was to Mexico, with 4,100 MT to Japan. USDA’s FOB plant pork cutout value was up 70 cents from the day prior in the Thursday AM report at $102.31 per cwt. All primals but the ham and belly were reported higher, with the picnic leading the way, up $5.41. USDA estimated Wednesday’s FI hog slaughter at 488,000 head, with the week to date total at 1.464 million head. That is 1,000 head below the previous week but 25,030 head above than the same week last year. Dec 24 Hogs are at $84.100, down $0.275, Feb 25 Hogs are at $85.250, down $0.450 Apr 25 Hogs is at $88.025, down $0.025, 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. |
|