Front month lean hog futures settled the session mostly red, save for a 7 cent gain in the October contract. The nearby futures were 35 to 87 cents in the red at the close, but May was nearly $1.50 off its earlier session low. The National Average Base Hog price was 20 cents lower to $75.64. The CME Lean Hog Index was down by 42 cents to $76.57 on 3/24.
Pork cutout futures closed $0.22 to $1.62 lower. USDA’s Pork Carcass Cutout value was $1.22 lower to $80 flat. Bellies had dropped $5.43. USDA estimated the FI hog slaughter at 480,000 head for Tuesday, setting the week’s total at 966k. That compares to 944,000 last week and 963,000 during the same week last year.
Apr 23 Hogs closed at $77.750, down $0.875,
May 23 Hogs closed at $86.000, down $0.725
Apr 23 Pork Cutout closed at $82.575, down $1.625,
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.
/Berskshire%20Hathaway%20Warren%20Buffett%20image%20by%20QubixStudio%20via%20Shutterstock.jpg)
/AI%20(artificial%20intelligence)/Artificial%20intelligence%20and%20machine%20learning%20concept%20-%20by%20amgun%20via%20iStock.jpg)
/Quantum%20Computing/A%20concept%20image%20with%20a%20brain%20on%20top%20of%20a%20blue%20circuit%20board_%20Image%20by%20Gorodenkoff%20via%20Shutterstock_.jpg)
/EV%20in%20showroom%20by%20Robert%20Way%20via%20Shutterstock.jpg)
/Berkshire%20Hathaway%20Inc_%20logo%20on%20phone-by%20FelloeNeko%20via%20Shutterstock.jpg)