Lean hog futures are trading with midday weakness of as much as 95 cents. Past the April contract, futures are 7 to 45 cents lower. USDA’s National Average Base Hog price for Thursday morning was $77.37 with no comparison to yesterday’s quote. The CME Lean Hog Index was 77 cents stronger to $77.53 on 2/21.
Pork cutout futures are mixed but mostly lower so far through Thursday with losses of as much as 77 cents. USDA’s National Pork Carcass Cutout value was shown $3.58 higher in the AM report for Thursday, up to $86.63. USDA estimated FI hog slaughter at 428,000 head for Wednesday, taking the WTD total to 1.389 million head. That is down 56,000 head from last week and 27,000 head lower than the same week last year.
April 23 Hogs are at $85.725, down $0.825,
May 23 Hogs are at $95.675, down $0.075
April 23 Pork Cutout is at $92.775, down $0.775,
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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