The lean hog futures market settled with a 32 cent loss in the Feb contract, but 47 to 75 cent gains in the other nearbys. For April that finished out the week with a net 2 cent gain Friday to Friday. USDA’s National Average Base Hog price was $72.65 on Friday afternoon, down by 28 cents. The CME Lean Hog Index from 1/31 was $72.51, after another 7 cent drop.
Pork cutout futures ended the day up by 20 to 47 cents past the Feb contract’s 47 cent drop. USDA’s National Pork Carcass Cutout value was $79.09 in the Friday PM report, down by $2.41. USDA estimated the FI hog slaughter at 2.575m head for the week through Saturday. That compares to 2.536 million last week and 2.436m from the same week last year.
Feb 23 Hogs closed at $75.025, down $0.325,
Apr 23 Hogs closed at $86.475, up $0.475
Feb 23 Pork Cutout closed at $82.500, down $0.475,
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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