April lean hogs closed with a $1.32 gain as the back months fell on Tuesday. April is still an $8.15 discount to the May. USDA’s National Average Base Hog price was $78.47, up by 56 cents, in the PM report. USDA quoted the WCB at $78.42, and the ECB at $78.89. The CME Lean Hog Index was $78.71 on 3/2, up by 6 cents.
Pork cutout futures ended the day mixed with a $1.02 gain for April and a 10 cent gain for May as the summer months closed 40 to 50 cents weaker. USDA’s National Pork Carcass Cutout value was 31 cents lower to $87.02 in the PM report. Tuesday’s FI hog slaughter was estimated at 485k head. That had the week to date total as 946k, matching the same week last year but trailing last week’s pace by 21k head.
Apr 23 Hogs closed at $84.800, up $1.325,
May 23 Hogs closed at $92.950, down $0.100
Apr 23 Pork Cutout closed at $91.375, up $1.025,
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.
/A%20Palantir%20office%20building%20in%20Tokyo_%20Image%20by%20Hiroshi-Mori-Stock%20via%20Shutterstock_.jpg)
/An%20image%20of%20a%20Tesla%20humanoid%20robot%20in%20front%20of%20the%20company%20logo%20Around%20the%20World%20Photos%20via%20Shutterstock.jpg)
/Tesla%20Inc%20logo%20by-%20baileystock%20via%20iStock(1).jpg)
/AI%20(artificial%20intelligence)/Data%20Center%20by%20Caureem%20via%20Shutterstock%20(2).jpg)
/Quantum%20Computing/A%20concept%20image%20of%20a%20green%20and%20yellow%20motherboard_%20Image%20by%20Gorodenkoff%20via%20Shutterstock_.jpg)