So far for the week’s last trade day, the nearby hog futures are up by 70 cents to $1.32. That has the April contract at a net $1.85 gain for the week, though is just enough to flip the June contract into the black for the week. USDA’s National Average Base Hog price was shown at $77.83 in the AM report for Friday, that was another 44 cents weaker. The CME Lean Hog Index for 3/8 was $79.39, up by 10 cents.
Pork cutout futures are also gaining triple digits in the front months through midday. USDA’s National Pork Carcass Cutout value reported at $87.89 this morning, down by 50 cents. USDA estimated federally inspected hog slaughter at 1.912m head for the week through Thursday. That is 9,000 head behind last week, but is 15k head more than the same week last year.
April 23 Hogs are at $86.300, up $1.225,
May 23 Hogs are at $93.800, up $1.050
April 23 Pork Cutout is at $93.350, up $1.375,
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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