Hogs Rallying with 20-Year Low in Pork Stocks

Lean hog futures are back up 85 cents to $1.57 so far on Tuesday’s midday.  The national average base hog negotiated price was at $87.69 in the Tuesday morning report. The CME Lean Hog Index was reported at $87.01 on November 22, down another 55 cents from the previous day. 

Pork stocks were tallied at a 20 year low for the end of October on Monday afternoon, with NASS reporting 426.03 million lbs. That was down 7.06% from last month and 2.71% lower than last year’s total.

USDA’s FOB plant pork cutout value reported back lower on Tuesday AM, down $1.54 at $91.79 per cwt. The picnic and ham primals were the only reported higher, with the rest reported lower. USDA estimated Monday’s FI hog slaughter at 489,000 head. That is even with last week and 12,831 head above the same week last year.

Dec 24 Hogs  are at $82.825, up $0.850,

Feb 25 Hogs  are at $87.500, up $1.575

Apr 25 Hogs  is at $91.100, up $0.975,

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.