Hogs Bouncing Higher on Monday
Lean hog futures are showing some recovery higher on Monday, with gains to 30 cents to $1. USDA’s national base hog price from Monday morning was not reported due to light volume, with a 50-day rolling average at $97.31. The CME Lean Hog Index was down another 65 cents on October 9 at $99.43.
USDA’s FOB plant report from Monday morning showed the pork cutout up $2.16 at $106.58 per cwt. The ham was the only primal reported lower. USDA estimated federally inspected hog slaughter over the course of the week at 2.577 million head. That is down 25,000 head from last week and 6,066 head below than the same week last year.
Oct 25 Hogs are at $97.300, up $0.300,
Dec 25 Hogs are at $85.025, up $1.000
Feb 26 Hogs is at $87.100, up $0.800,
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.