Lean hog futures are down $0.82 to $1.87 lower through midday. For May that has the contract down a net $3.37 lower for the week. USDA’s National Average Base Hog price for Wednesday morning was $77.29, with no comparison to the day prior due to confidentiality. The CME Lean Hog Index was back down by 46 cents to $79.55 on 3/17.
Pork cutout futures are also in the red with $0.17 to $1.70 losses. ended Tuesday $0.02 to $1.20 in the red. USDA’s National Pork Carcass Cutout value was $1.02 lower in the AM report for Wednesday to $80.50. Hams were down by more than $5 cwt. USDA estimated Tuesday’s FI hog slaughter at 485,000 head for a 944k weekly running total. That is 25k head below last week’s pace but still up 2k from the same week last year.
April 23 Hogs are at $76.175, down $0.875,
May 23 Hogs are at $83.200, down $1.500
April 23 Pork Cutout is at $82.750, down $1.350,
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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