Lean hog futures found some fresh buying to start the week, with contracts up 37 cents to $3.02 across the board. Front months led the way. Feb hogs expire on Tuesday, and were down a nickel. USDA’s National Average Base Hog price for Monday afternoon was down $1.65 at $76.82. The 2/09 CME Lean Hog Index was up by 21 cents to $74.01.
Pork cutout futures were also up by triple digits past the Feb contract. USDA’s National Pork Carcass Cutout value was up 69 cents this afternoon at $81.74. USDA estimated FI hog slaughter for Monday at 485,000 head. That is 5,000 above the same day last week and 19,000 more than last year.
Feb 23 Hogs closed at $75.825, down $0.050,
Apr 23 Hogs closed at $86.350, up $3.025
Feb 23 Pork Cutout closed at $81.075, up $0.325,
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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