Hog Losses Continue, as Cash Weakness Persists

Lean hog futures are mixed, as midday, as December is down $2.32 and chasing cash lower. February is down 35 cents with some deferreds lower. USDA’s national base hog price was reported at $55.82 in the Wednesday AM report, down $6 from the day prior. The CME Lean Hog Index was down another 70 cents on October 26 at $69.36.

USDA’s pork carcass cutout value was down $3.11 in the Wednesday morning report, at $76.20. The but and rib primals were reported lower. Federally inspected hog slaughter for Monday was estimated 493,000 head, with the week to date total at 977,000 head. That was 13,000 head above last week after a 12,000 head lower revision to Monday and 3,184 head above of the same week last year.

Dec 26 Hogs  are at $59.700, down $2.325,

Feb 27 Hogs  are at $64.575, down $0.350

Apr 27 Hogs are at $70.975, up $0.650,

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.