Following a pullback on Friday, the new week of trading has lean hog futures 20 cents to $1.15 in the red. USDA’s National Average Base Hog price was 2 cents higher to $77.85. The 2/23 CME Lean Hog Index for was $77.49, down by 24 cents.
Pork cutout futures are also weaker so far through Monday. USDA’s National Pork Carcass Cutout value was up by $4.29 to $89.64. Bellies were $20.56 higher in the AM report. USDA estimated FI hog slaughter for the week through Saturday at 2.375m head. That is down from 2.505 million last 2.492m head during the same week last year. The YTD total of 20.068m head is 1.3% ahead of last year’s pace.
April 23 Hogs are at $85.400, down $0.625,
May 23 Hogs are at $94.200, down $1.150
April 23 Pork Cutout is at $92.275, down $0.550,
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.
/Technology%20abstract%20by%20TU%20IS%20via%20iStock.jpg)
/Micron%20Technology%20Inc_%20logo%20on%20building-by%20vzphotos%20vis%20iStock.jpg)
