The lean hog futures market pushed lower again on Tuesday. The front months closed UNCH to $1 lower. At the day’s low, the Feb contract was within 2 cents of its October low. USDA’s National Average Base Hog price was $71.17 on Tuesday afternoon, up by 55 cents. The 1/20 CME Lean Hog Index was $72.13, down by another 52 cents.
Pork cutout futures ended the day with 17 to 40 cent losses. USDA’s National Pork Carcass Cutout value was 86 cents weaker to $80.06. USDA estimated the FI hog slaughter at 484k head for Tuesday and 973k head for the week. That compares to 911k head last week and 923k head during the same week last year.
Feb 23 Hogs closed at $77.100, down $0.475,
Apr 23 Hogs closed at $85.375, down $0.075
Feb 23 Pork Cutout closed at $85.000, down $0.400,
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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