Hog prices are working triple digits lower after the long weekend. Feb and April are down by more than $2 so far, with $1.35 to $1.70 losses in the deferred months. USDA’s National Average Base Hog price was delayed due to packer submission errors, on Friday AM it was quoted at $75.11. The CME Lean Hog Index dropped 55 cents on 12/29 to $80.19.
Pork cutout futures are also giving back $2 in the front months through midday. USDA’s National Pork Carcass Cutout value was 74 cents weaker this morning to $87.18. Federally inspected hog slaughter for the week through Saturday is estimated at 2.186m head. That set the yearly total at 124.673m head.
Feb 23 Hogs are at $85.125, down $2.575,
April 23 Hogs are at $93.300, down $2.000
Feb 23 Pork Cutout is at $91.800, down $2.275,
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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