The recent pullback from the hog market pushed futures another $0.67 to $1.80 lower on Thursday. April futures went home $1.10 above the October low and $13 under their LoC high. USDA’s National Average Base Hog price for Thursday was 86 cents lower to $70.35. The CME Lean Hog Index for 1/17 was $73.85 after another 33 cent drop.
Pork cutout futures settled the day with $0.52 to $1.77 losses. USDA’s National Pork Carcass Cutout value for Thursday afternoon was $1.68 higher to $79.57. Federally inspected hog slaughter for the week through Thursday was estimated at 1.840m head, down by 81k head compared to last week but 61k head more than the same week last year.
Feb 23 Hogs closed at $76.650, down $0.675,
Apr 23 Hogs closed at $84.400, down $1.800
Feb 23 Pork Cutout closed at $84.500, 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.
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