The April hog contract is bouncing back by 92 cents so far for Friday, but the other nearby contracts are adding another 32 to 90 cents to the downside. USDA’s National Average Base Hog price was $77.81 in the AM report, down by another 65 cents. Thursday afternoon was $78.83, down by 37 cents. The CME Lean Hog Index for 3/15 was 2 cents higher to $79.95.
The nearby pork cutout futures are trading $1.05 to $3.80 in the red. USDA’s National Pork Carcass Cutout value for Friday morning was $1.31 lower to $83.18. USDA estimated federally inspected hog slaughter at 1.933 million head for the week through Thursday. That compares to 1.912m last week and 1.897m during the same week last year.
April 23 Hogs are at $79.825, up $0.375,
May 23 Hogs are at $86.600, down $1.375
April 23 Pork Cutout is at $85.475, down $1.050,
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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