After trading higher to start the first session of the new week, lean hogs closed Monday mixed. Feb was down by 72 cents and the deferred contracts gave back 25 to 42 cents. April and May hog contracts were up by 7 and 10 cents respectively at the close. USDA’s National Average Base Hog price for Monday afternoon was 55 cents weaker at $70.08. The 1/26 CME Lean Hog Index was $72.64, up by 12 cents.
Pork cutout futures settled mixed as well on Monday, with a $1.17 gain in April and a 75 cent loss in Feb. USDA’s National Pork Carcass Cutout value was reported at $80.28, up by $1.03 for the PM quote. The CME Fresh Bacon Index was $122.32 for 1/27. USDA estimated the FI hog slaughter at 491k head for Monday. That is up 3,000 head wk/wk and is 14k head above the same Monday last year.
Feb 23 Hogs closed at $75.150, down $0.725,
Apr 23 Hogs closed at $86.525, up $0.075
Feb 23 Pork Cutout closed at $82.925, down $0.750,
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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