Monday action in the hog market has futures down by at least $2.50 across the front months. Feb is the outlier on the board with a 15 cent gain so far. The April contract is below its closely watched October low, trading at the lowest levels since December of 2021. USDA’s National Average Base Hog price was 84 cents weaker on Monday morning to $71.81. The 2/02 CME Lean Hog Index was $73.05, up by 20 cents.Â
Pork cutout are also being pulled lower with midday loses of $2.70 to $3.15 so far. USDA’s National Pork Carcass Cutout value was $8.87 higher in the AM report to $87.96. The bellies were $34.18 higher to $125.27. 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.Â
Feb 23 Hogs  are at $75.275, up $0.250,
April 23 Hogs  are at $82.925, down $3.550
Feb 23 Pork Cutout  is at $82.700, up $0.200,
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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