Lean hog futures fell another triple digits in most contracts on Wednesday with $0.97 to $2 losses across the front months. For June that marked the 8th consecutive loss, 5 of which were triple digits, for a net $13.42 drop. USDA’s National Average Base Hog price was 38 cents lower to $77.63. The CME Lean Hog Index was back down by 46 cents to $79.55 on 3/17.
Pork cutout futures went home on Wednesday down by $0.77 to $2.20. USDA’s National Pork Carcass Cutout value for Wednesday afternoon was $1.66 lower to $79.86. USDA estimates the week’s FI hog slaughter through Wednesday at 1.422 million head. That trails last week by 26k and last year by 2k head.
Apr 23 Hogs closed at $76.075, down $0.975,
May 23 Hogs closed at $83.250, down $1.450
Apr 23 Pork Cutout closed at $82.425, down $1.675,
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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