Lean hog futures are another 42 cents to $1.05 in the red so far for Tuesday. USDA’s National Average Base Hog price was $76.44 after another $1.37 drop. The CME Lean Hog Index was back down by 46 cents to $79.55 on 3/17.
Pork cutout futures are also dropping through midday, with losses of as much as $2.12 across the front months. USDA’s National Pork Carcass Cutout value was $8.25 in Tuesday’s AM report, that was $1.30 higher. The CME Fresh Bacon Index was 25 cents lower for the week that ended 3/17 to $132.39. USDA estimated FI hog slaughter at 477,000 head for Monday. That is down 7,000 from last week but is up by 8,000 above the same Monday last year.
April 23 Hogs are at $77.500, down $0.275,
May 23 Hogs are at $84.650, down $0.500
April 23 Pork Cutout is at $84.300, down $0.600,
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.
/NVIDIA%20Corp%20logo%20on%20phone-by%20Evolf%20via%20Shutterstock.jpg)
/Semiconductor%20chip%20by%20Mykola%20Pokhodzhay%20via%20iStock.jpg)
/Green%20hydrogen%20by%20Scharfsinn%20via%20Shutterstock.jpg)