Lean hog futures are up 25 cents to $1 so far on Wednesday. USDA’s national base hog price was reported at $69.01 on Wednesday morning, down $1.05 from the day prior. The CME Lean Hog Index was down another 6 cents on December 1 at $81.61.
CFTC data from Tuesday afternoon for the week of 10/21 showed specs continuing to liquidate their net long by another 11,697 contracts to 117,231 contracts.
USDA’s pork carcass cutout value from the Wednesday AM report was up 47 cents to $94.69 per cwt. The butt and belly were the only primals reported higher. USDA estimated federally inspected hog slaughter for Tuesday was 489,000 head, with the week to date total at 971,000 head. That was 16,000 head below last week but 275 head above the week last year.
Dec 25 Hogs are at $80.750, up $0.250,
Feb 26 Hogs are at $81.175, up $1.000
Apr 26 Hogs is at $84.725, up $0.900,
