Red Close for Lean Hogs
Hogs initially pushed lower to start the week and printed a $1.80 trading range for Monday. At the close front month futures were down by $0.62 to $1.10. USDA’s National Average Base Hog price was $76.16 on Monday afternoon, down by 2 cents. The CME Lean Hog Index for 3/7 was $81.48, unchanged with the day prior.
The USDA national Pork Carcass Cutout Value for Wednesday afternoon was $93.51, up by $1.40 with a stronger quote for each primal cut. USDA estimated the Monday FI hog slaughter at 468,000 head. That compares to 493k last week and 482k during the same week last year.
Apr 24 Hogs closed at $83.275, down $1.100,
Jun 24 Hogs closed at $101.050, down $0.775
Apr 24 Pork Cutout closed at $92.200, up $0.000,
On the date of publication, Alan Brugler 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.
