Piglets napping
The lean hog futures market rallied back from last week’s loss on $0.52 to $2.02 gains for Monday. Feb was the weak link of the complex. USDA’s National Average Base Hog price was 59 cents weaker to $73.88. The CME Lean Hog Index was $77.49 for 1/05, down by 77 cents.
Pork cutout futures went home up by 17 cents to $1.57 in the front months. USDA’s National Pork Carcass Cutout value was $85.06 in the Monday AM report after a $1.06 boost. USDA estimated Monday’s FI hog slaughter at 491,000 head.
Feb 23 Hogs closed at $80.800, up $0.525,
Apr 23 Hogs closed at $90.800, up $1.150
Feb 23 Pork Cutout closed at $88.900, up $0.175,
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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