Lean Hogs were down a nickel to $1.22 in the front months on Monday, with deferred contracts up 7 to 35 cents. USDA’s National Average Base Hog price for Monday afternoon was $2.77 lower to $75.40. The CME Lean Hog Index for 3/9 was up 23 cents from the previous day to $79.62.
The nearby pork cutout futures were also down $1.20 on Monday. USDA’s National Pork Carcass Cutout value was $1 higher on Monday afternoon at $88.80, backing off the midday increase. The belly primal average was down $1.58 in the PM report, with other cuts higher. USDA estimated federally inspected hog slaughter at 484,000 head for Monday. That is up 23,000 head vs. last week and 18,000 head above the same Monday last year.
Apr 23 Hogs closed at $86.225, down $1.225,
May 23 Hogs closed at $94.575, down $0.350
Apr 23 Pork Cutout closed at $93.100, down $1.200,
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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