The new week of trading ended its first session with $1.02 to $1.37 losses in the hog market. For April that brought the contract back to the $84s, not seen since Feb 13th. USDA’s National Average Afternoon Base Hog price was 34 cents higher to $78.02. The 2/23 CME Lean Hog Index for was $77.49, down by 24 cents.
Pork cutout futures closed $1 to $1.22 in the red. USDA’s National Pork Carcass Cutout value was $85.94 in the PM report, up by 59 cents. CME’s Fresh Bacon Index was $137.56 on 2/24. USDA estimated Monday’s FI hog slaughter at 482,000 head. That matches last week, and is 30k more than the same Monday last year.
Apr 23 Hogs closed at $84.725, down $1.300,
May 23 Hogs closed at $94.125, down $1.225
Apr 23 Pork Cutout closed at $91.700, down $1.125,
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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