Hog futures are extending their bounce from Friday with another triple digit rally through Monday’s midday. The front months are up by $1.85 to $2.42 so far. The National Average Base Hog price for Monday morning was 15 cents weaker to $76.03. The 3/22 Lean Hog Index from CME was 44 cents lower to $77.39.
Pork cutout futures are also up by triple digits in the contracts with volume through midday. USDA’s Pork Carcass Cutout value was $4.42 stronger in the AM report to $85.47. USDA estimated the week’s FI hog slaughter at 2.457m head for the week through Saturday. That is 35k head below last week’s pace and is 46k head above the same week last year. The YTD pace is 1.6% above last year.
April 23 Hogs are at $79.450, up $2.275,
May 23 Hogs are at $87.650, up $1.975
April 23 Pork Cutout is at $84.650, up $1.550,
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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