Wednesday’s lean hog market saw futures trade from +68c to -82 cents (April), before closing in the red. The pullback left the board down by 5 to 35 cents across most of the nearbys, though April was down by 75 cents. USDA’s National Average Base Hog price was $1.17 higher to $77.36 on Wednesday afternoon. The CME Lean Hog Index was $75.18 after a 54 cent increase for 2/13.
Pork cutout futures settled in the red on a light trade day. April settled $1 in the red, though the other contracts went home with 37 cent losses. USDA’s National Pork Carcass Cutout value was down by 94 cents to $80.94. USDA estimated the week’s FI hog slaughter at 1.445 million head through Wednesday. That is 4k head more wk/wk and compares to 1.414m head during the same week last year.
Apr 23 Hogs closed at $86.500, down $0.750,
May 23 Hogs closed at $95.700, down $0.350
Apr 23 Pork Cutout closed at $92.900, down $0.675,
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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