Lean hog futures were down 20 to 92 cents across the front months on Wednesday, as contracts faced losses heading into the Holiday break. USDA’s national base hog price was not reported on Wednesday due to thin trade. The CME Lean Hog Index was up a penny on December 22 at $83.72. The CME will open back up on Friday per normal, with no trade on Thursday.
NASS released their quarterly Hogs & Pigs report on Tuesday afternoon, with December 1 hog inventory at 75.55 million head, up 0.63% from last year. December 1 market hogs were up 0.75% at 69.59 million head, with hogs kept for breeding down 0.87% to 5.952 million head.
Cold Storage data showed pork stocks on November 30 at 371.27 million lbs. That was the lowest November total since 1997 and the lowest for any month since June 2004.
USDA’s pork carcass cutout value from the Wednesday PM report was $3.03 lower at $93.66 per cwt. The loin, picnic, ham, and belly were the primals reported lower, with the latter down $14.37. USDA estimated federally inspected hog slaughter for Wednesday at 170,000 head, with the weekly total at 1.153 million head. That was 309,000 head below last week but still above the same week last year.
Feb 26 Hogs closed at $85.050, down $0.925,
Apr 26 Hogs closed at $89.800, down $0.475
May 26 Hogs closed at $93.650, down $0.200,
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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