Lean hog futures dropped by triple digits past the Feb contract’s 90 cent drop. April led the way with a 2.46% loss, and got to within 13 cents of the October low. USDA’s National Average Base Hog price was $71.19 in the PM update, which was up by 70 cents. The CME Lean Hog Index from 1/30 was $72.58, down by 13 cents.
Pork cutout futures ended the session $0.45 to $1.87 in the red. USDA’s National Pork Carcass Cutout value for Wednesday afternoon was $78.95, down by $1.30. USDA estimated the FI hog slaughter at 1.448m head for the week through Wednesday. That is 15k head below last week’s pace and is 67k head above the same week last year.
Feb 23 Hogs closed at $73.975, down $0.900,
Apr 23 Hogs closed at $84.300, down $2.125
Feb 23 Pork Cutout closed at $81.325, down $1.425,
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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