
Front month lean hog futures are trading $0.55 to $1.22 lower and are nearing their late November lows on the board. USDA’s National Average Base Hog price was $71.99 in the AM report, down by 24 cents. The 1/09 CME Lean Hog Index was $76.44, down by another 35 cents.
Pork cutout futures are also red with 52 to 95 cent weakness so far in the active contracts. USDA’s National Pork Carcass Cutout value was $81.48 in the AM report after a 25 cent decrease. 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 are at $79.250, down $0.550,
April 23 Hogs are at $88.300, down $1.225
Feb 23 Pork Cutout is at $87.500, down $0.525,
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. For more information please view the Barchart Disclosure Policy here