Lean hog futures ended the midweek session in the bottom half of their range with $0.35 to $1.17 losses. Dec hogs expired at $82.32. The National Average Base Hog price for Wednesday afternoon was 85 cents weaker to $80.63. The 12/12 CME Lean Hog Index was $81.62 after a 15 cent bounce.
Front month pork cutout futures were also red on the day, led by the now lead month Feb’s $1.15 drop. USDA’s National Pork Carcass Cutout value was back down by $6.87 to $84.27 after bellies fell back by $36.94. Picnics were also down by $8.16. USDA estimated the week’s FI hog slaughter at 1.461m head through Wednesday. That is up by 3,000 head from last week’s pace.
Feb 23 Hogs closed at $83.400, down $1.175,
Apr 23 Hogs closed at $90.725, down $0.625
Feb 23 Pork Cutout closed at $91.925, down $1.150,
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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