
April hogs saw new lows on Monday after trading to levels not seen since December of 2021. At the close, the board was ~30 cents off the day’s low, but still down $2 to $3.75. Feb hogs were the outlier, as expiration draws near, ending the day with a 2 cent gains. USDA’s National Average Base Hog price was 31 cents weaker on Monday afternoon to $72.34. The 2/02 CME Lean Hog Index was $73.05, up by 20 cents.
Pork cutout futures went home $2.20 to $2.85 weaker in the front months – past Feb’s 7 cent gain. USDA’s National Pork Carcass Cutout value was $2.53 higher in the PM report to $81.62. The bellies were quoted at $99.44 after an $8.35 increase. CME’s Fresh Bacon Index was $120.74 on 2/3, compared to $122.32 from the prior week. USDA estimates federally inspected hog slaughter at 487,000 head for Monday. That compares to 475k head last week and 479k head during the same week last year.
Feb 23 Hogs closed at $75.050, up $0.025,
Apr 23 Hogs closed at $82.725, down $3.750
Feb 23 Pork Cutout closed at $82.575, up $0.075,
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.