The February lean hog contract will be settled against the index on 2/18, but went off the board at $75.67. The other nearby contracts closed Tuesday up by 55 to 90 cents, which for April took prices back to the late Jan highs. USDA’s National Average Base Hog price for Tuesday was $0.83 higher to $76.19. The 2/10 CME Lean Hog Index was up by 63 cents to $74.64.
Pork cutout futures closed higher as well, with 20 to 95 cent gains in the front months. USDA’s National Pork Carcass Cutout value was 14 cents higher to $81.88. USDA estimated FI hog slaughter at 477k head for Tuesday which set the weekly total as 962,000 head. That is up by 3k head wk/wk and 21k head from the same week last year’s pace.
Apr 23 Hogs closed at $87.250, up $0.900,
May 23 Hogs closed at $96.050, up $0.550
Apr 23 Pork Cutout closed at $93.575, up $0.950,
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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