Lean Hogs (Pit) Futures Market News and Commentary
Lean hog futures are trading mixed but mostly higher so far, with a 60c gain in Dec a 5c gain in Feb but a 15c loss in April. The National Average Base Hog price fell by $2.26 to $53.96 in the AM report. The 12/01 CME Lean Hog Index was another 74 cents weaker to $69.84.
The National Pork Carcass Cutout Value for Wednesday morning was $85.30 after a 63c increase for the AM quote. USDA reported the FI hog slaughter at 488k head, setting the weekly total at 971k head. That compares to 960k head last week and 977k during the same week last year.
Feb 24 Hogs are at $69.300, down $0.050,
April 24 Hogs are at $75.925, down $0.175
Feb 24 Pork Cutout is at $81.250, down $0.550,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.