Lean hog futures were down a nickel in the soon to expire December contracts, with other contracts up 55 to 85 cents. USDA’s national base hog price was reported at $70.05 on Wednesday afternoon, down $1.38 from the day prior. The CME Lean Hog Index was up 5 cents on December 8 at $81.89.
Commitment of Traders data showed a total of 7,306 contracts cut from the managed money net long in the week of 11/10 at 71,512 contracts in lean hog futures and options.
USDA’s pork carcass cutout value from the Wednesday PM report was 83 cents higher to $97.27 per cwt. The picnic and ham primals were the only reported higher. USDA estimated federally inspected hog slaughter for Wednesday at 490,000 head, taking the week to date total to 1.471 million head. That was 28,000 head above last week and 16,264 head above the same week last year.
Dec 25 Hogs closed at $82.450, down $0.050,
Feb 26 Hogs closed at $82.425, up $0.550
Apr 26 Hogs closed at $87.375, up $0.850,
