Front month lean hog futures are trading with losses of as much as 3.64% so far April is down the most at midday. USDA’s National Average Base Hog price for Wednesday morning was delayed due to packer submission errors, but was $70.85 on Tuesday’s PM update. The CME Lean Hog Index was another 7 cents stronger on 1/27 to $72.71.
Pork cutout futures are also fading by triple digits so far. USDA’s National Pork Carcass Cutout value for Wednesday morning was another 29 cents weaker to $79.96. USDA estimated the FI hog slaughter at 483,000 head for Tuesday, with Monday revised 16,000 head lower and taking the WTD total to 958,000 head. That is down 15,000 head wk/wk but is 3,000 head above the same week last year.
Feb 23 Hogs are at $74.300, down $0.575,
April 23 Hogs are at $83.425, down $3.000
Feb 23 Pork Cutout is at $81.300, down $1.450,
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.
