Hogs See Front Month Weakness on Monday
Tue Nov 05
Lean hogs settled Monday with the front months down a tick to 85 cents and deferred contracts up 25 to 47 cents. The national average base hog price was reported at $77.50 on Monday afternoon, down $1.56 from the previous day. The CME Lean Hog Index was reported at $88.56 on October 31, up 63 cents from the day prior.
USDA’s FOB plant pork cutout value was up 4 cents from the day prior in the Monday PM report at $104.01 per cwt. The loin, butt, picnic, and rib primals were reported higher, up to 52 cents to $4.33, with the belly leading the downside charge, losing $4.64. USDA estimated the Monday FI hog slaughter at 489,000 head. That is 1,000 head above the previous Monday but 1,920 head below the same week
Dec 24 Hogs closed at $83.225, down $0.850,
Feb 25 Hogs closed at $85.325, down $0.700
Apr 25 Hogs closed at $88.600, down $0.300,