Pigs settled with losses of $2 to $3.30 on Friday, with Dec down 70 cents. The USDA National Average Basal Hog price was reported at an average price of 57.49 on Friday afternoon in very light action, which was another $5.48 lower than Wednesday. The CME Lean Hog Index for 11/21 fell another 28 cents to $73.90.
The USDA Export Sales report showed 26,330 MT of pork sold for export during the week of November 16. That was up from the previous week, but still at the low end of the MIA. Actual export shipments came in at 32,184 MT which was the second largest total for any week since August.
December pork cut futures were down 17 cents. The National Pork Carcass Cutout Value decreased another 51 cents in the Friday PM report at $84.17. The picnic and ham were the only ancestors reported lower. USDA estimated FI hog slaughter at 462,000 for Friday and 335,000 head for Saturday, bringing the WTD total to 2.221 million head. That’s an 11,000 increase from the same week last year. In the year, total slaughter is at 114.635 million heads, a 1.5% increase against a year ago.
Dec 23 Hogs closed at $67.575, down $0.700,
Feb 24 Hogs closed at $68,775, down $3,050
December 23 Pork closed at $79,700, down $0.175,
As of the date of publication, Alan Brugler 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 for informational purposes only. For more information, please see Barchart’s Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.