The lean hog futures market ended the day with $0.45 to $1 losses. That left the Feb contract at a net $3.62 loss for the week thus far. USDA’s National Average Base Hog price was $1.22 weaker on Wednesday afternoon to $73.47. The CME Lean Hog Index dropped 55 cents on 12/29 to $80.19.
Pork cutout futures settled the day with $0.47 to $1.30 losses. USDA’s National Pork Carcass Cutout value was $85.83 in the PM report for Wednesday, down by 17 cents. Federally inspected hog slaughter was estimated at 933k head for the week through Wednesday. That compares to 985k head last week and 1.38m head during the same week last year.
Feb 23 Hogs closed at $84.075, down $1.000,
Apr 23 Hogs closed at $92.900, down $0.900
Feb 23 Pork Cutout closed at $90.500, down $1.300,
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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