Piglets napping
Lean hog futures are down by as much as $1.15 so far through Wednesday’s midday, led by a drop in the now lead month April contract. USDA’s National Average Base Hog price was 39 cents higher to $75.65. The 2/10 CME Lean Hog Index was up by 63 cents to $74.64.
Pork cutout futures are also in the red for the contracts with volume. USDA’s National Pork Carcass Cutout value was 95 cents higher to $82.83. 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.
April 23 Hogs are at $86.150, down $1.100,
May 23 Hogs are at $95.225, down $0.825
April 23 Pork Cutout is at $92.575, down $1.000,
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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