Lean Hog futures are trading with contracts up 50 to 75 cents at midday. The national average base hog negotiated price was reported at $83.30 on Friday morning. The CME Lean Hog Index was reported at $87.44 on November 20, down another 39 cents from the previous day.
Year to date pork shipments have totaled 1.475 MT according to Export Sales data, which is up 6.2% from a year ago at the same time. Adding in unshipped sales for the total commitments show 1.654 MMT, which is 1.1% larger than last year.
USDA’s FOB plant pork cutout value reported back higher on Friday morning, up 92 cents at $93.99 per cwt. The loin and rib primals were reported lower, with the others up in a range of 78 cents to $3.91, led by the ham. USDA estimated the Thursday FI hog slaughter at 487,000 head, with the weekly total at 1.953 million head. That is 29,000 head above last week and up 527,468 head from the same (Thanksgiving) week last year.
Dec 24 Hogs are at $81.425, up $0.625,
Feb 25 Hogs are at $85.425, up $0.775
Apr 25 Hogs is at $89.675, up $0.750,
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