Lean hog futures returned to the red on Tuesday with triple digit losses of $0.95 to $1.52 across the front months. That flipped the board back to the red for the week after erasing Monday’s bounce. USDA’s National Average Base Hog price for Tuesday was $0.57 weaker to $73.31. The 1/06 CME Lean Hog Index was down by 70 cents to $76.79.
Pork cutout futures went home $0.97 to $1.07 lower. Tuesday’s National Pork Carcass Cutout value was 62 cents lower in the PM update to $81.73. USDA estimated Tuesday’s FI hog slaughter at 467,000 head. That set the weekly pace at 952k head after a revised Monday. The same week last year was running 900k flat through Tuesday.
Feb 23 Hogs closed at $79.800, down $1.000,
Apr 23 Hogs closed at $89.525, down $1.275
Feb 23 Pork Cutout closed at $88.025, down $0.975,
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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