Hogs near $56 as pork cutout slips; export sales due 7:30
Published
December hogs settled at $56.03 while the national cash hog price sat at $43.25. That gap is about $12.78 a hundredweight, and futures buyers are paying well over what packers paid on the kill.
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Basis firmed this week: Indiana corn +7¢ (50 of 61 bids moved), Ohio soybeans +5¢ (45 of 60) and Ohio corn +5¢ (48 of 56).
Each state's middle change in a week, across bids matched with the same elevator's same delivery and futures month; states with 30 or more such bids from 8 or more companies.
Counted by code from the elevator boards AGSIST reads itself, not by the writer of this briefing. A week's change is each bid against the same elevator's same delivery and futures month a week before. Quote it with the date and a link to agsist.com/daily/2026-11-12. How this briefing is made · Monthly: AGSIST Cash Bid Index
- December hogs settled Wednesday at $56.03, up 0.4% from Tuesday's $55.80.
- USDA AMS put national negotiated cash hogs at $43.25 carcass base on 3,605 head killed Nov 10; the pork cutout was $69.34.
- December corn is at $4.48 overnight, unchanged from Wednesday's settle.
- January soybeans are at $12.28¾, down 2 cents. USDA AMS had Gulf corn bids at 94 to 95 over December on Wednesday.
- December live cattle settled Wednesday at $218.98, down 0.1%, and feeders gained 0.7% to $332.63.
- WTI is at $86.04 overnight, down 0.6%, as Asian reports said Iran and Ukraine peace hopes are building.
- Today 7:30 a.m. CTExport sales, possibly Friday (Nov 13) after the holiday. Soybeans are the line to read against firm Gulf bids.
- OngoingDec hogs back under $55.00 would say futures are closing the gap to cash.
- Dec 112026 ARC/PLC signup deadline at FSA, 29 days away.