Piglets napping
April lean hog futures are bouncing back for Tuesday with a 60 cent midday gain so far. The other nearbys are extending the downside with midday losses of as much as 95 cents. USDA’s National Average Morning Base Hog price was 51 cents weaker to $77.36. The CME Lean Hog Index was $78.71 on 3/2, up by 6 cents.
Pork cutout futures are down 30 to 92 cents in the active contracts so far. USDA’s National Pork Carcass Cutout value was 41 cents higher to $87.74. USDA estimated FI hog slaughter for Monday at 469k head. That is 3,000 head above last year, but is down 11k from last Monday.
April 23 Hogs are at $83.825, up $0.350,
May 23 Hogs are at $92.525, down $0.525
April 23 Pork Cutout is at $90.050, down $0.300,
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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