Lean hog futures ended the Monday round with a 40 cent loss in Feb and a $1.17 loss for December. The other front months closed with $0.85 to $1.02 gains. That widened April’s premium to Dec to $8.67, the widest since 10/2. Last year, the Dec ’21 to April ’22 premium widened to $13.80 through November. The USDA National Average Base Hog Price for Monday afternoon was $88.34, down by $2.20. The 10/27 CME Lean Hog was $93.77 after a 48 cent drop.
Pork cutout futures are trading 22 to 82 cents stronger so far through the Monday session. The USDA Pork Cutout Value was $1.40 weaker in the PM report to $99.94. Bellies dropped by $23.62, enough to bring down the total despite most other cuts gaining value. USDA estimated FI hog slaughter at 491k head for Monday, up by 8k from last week.
Dec 22 Hogs closed at $84.925, down $1.175,
Feb 23 Hogs closed at $88.450, down $0.400
Dec 22 Pork Cutout closed at $95.050, down $1.075,
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.
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