February hog futures traded in a $1.55 range on Tuesday mostly one directionally. That left the contract $1.45 in the red for the close. The other nearbys also traded lower ending the day 12 to 82 cents lower. USDA’s National Average Base Hog price for Tuesday afternoon was 4 cents higher at $79.92. The CME Lean Hog Index was $80.84 on 12/16, down by 71 cents.
Pork cutout futures closed with $0.52 to $1.32 losses on the day, with very light activity. USDA’s National Pork Carcass Cutout value was quoted $83.46 in the PM report, down by $1.47. The CME Fresh bacon Index was $121.17 on 12/16. USDA estimated Tuesday’s FI hog slaughter at 489k head, which put the week’s total at 968k after a downward revision for Monday. Last week’s pace was 971,000 head and the same week last year was running 960,000.
Feb 23 Hogs closed at $84.250, down $1.450,
Apr 23 Hogs closed at $92.175, down $0.825
Feb 23 Pork Cutout closed at $92.350, down $1.325,
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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