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Hogs Slips Lower on Monday
Lean hog futures ended the Monday session with contracts down 15 to 82 cents and a few deferreds higher.. The national average base hog negotiated price was reported at $81.02 on Monday afternoon, which is up 89 cents from the previous day. The CME Lean Hog Index was reported at $83.73 on December 5, down 20 cents from the previous day.
USDA’s FOB plant pork cutout value reported higher on Monday PM, up $2.47 at $93.63 per cwt. Just the loin and picnic were reported lower, with the rib and ham the drivers to the upside, $7.21 and $7.18 higher respectively. USDA estimated the Monday FI hog slaughter at 489,000 head. That was even with last Monday and up 16,483 head from the Monday last year.
Dec 24 Hogs closed at $82.900, down $0.400,
Feb 25 Hogs closed at $86.500, down $0.825
Apr 25 Hogs closed at $91.200, down $0.650,
On the date of publication, Austin Schroeder 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 solely for informational purposes. For more information please view the Barchart Disclosure Policy here.