The midday hog quotes show the board is 25 to 70 cents higher so far into the weekend. The April contract is still at a net $1.50 loss for the week. USDA’s National Average Base Hog price was 22 cents weaker Friday morning to $77.85. The CME Lean Hog Index was up by 7 cents to $78.58 on 2/28.
Pork cutout futures are UNCH mostly on low volume and OI, the June contract is up by 40 cents as of the last trade at midday. USDA’s National Pork Carcass Cutout value from Friday’s AM report was 2 cents higher to $85.56. USDA estimated FI hog slaughter at 1.921m head for the week through Thursday. That is 80k head above last week’s pace and is 32k above the same week last year.
April 23 Hogs are at $84.650, up $0.800,
May 23 Hogs are at $93.125, up $0.250
April 23 Pork Cutout is at $90.425, down $1.050,
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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