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Hogs Close Mixed on Monday with Front Month Weakness
Lean hogs settled Monday with the front months down a tick to 85 cents and deferred contracts up 25 to 47 cents. The national average base hog price was reported at $77.50 on Monday afternoon, down $1.56 from the previous day. The CME Lean Hog Index was reported at $88.56 on October 31, up 63 cents from the day prior.
USDA’s FOB plant pork cutout value was up 4 cents from the day prior in the Monday PM report at $104.01 per cwt. The loin, butt, picnic, and rib primals were reported higher, up to 52 cents to $4.33, with the belly leading the downside charge, losing $4.64. USDA estimated the Monday FI hog slaughter at 489,000 head. That is 1,000 head above the previous Monday but 1,920 head below the same week
Dec 24 Hogs closed at $83.225, down $0.850,
Feb 25 Hogs closed at $85.325, down $0.700
Apr 25 Hogs closed at $88.600, down $0.300,
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.