Hogs flipped to net positive for the week with Friday gains of $1.42 to $2.37 across the front months. For April that left the contract at a net $2.90 gain from Friday to Friday. USDA’s National Average Base Hog price for Friday afternoon was 44 cents lower to $78.58. The CME Lean Hog Index for 3/8 was $79.39, up by 10 cents.
The nearby pork cutout futures also rallied triple digits on the week’s last trade day. USDA’s National Pork Carcass Cutout value was 59 cents lower on Friday afternoon to $87.80. USDA estimated federally inspected hog slaughter at 2.497m head for the week through Saturday. That is down from 2.512m head last week but is still up 25k from the same week last year.
Apr 23 Hogs closed at $87.450, up $2.375,
May 23 Hogs closed at $94.925, up $2.175
Apr 23 Pork Cutout closed at $94.300, up $2.325,
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.
/Tesla%20Inc%20tesla%20by-%20Iv-olga%20via%20Shutterstock.jpg)
