Midday hog futures are trading 40 to 62 cents in the black, with the Feb contract ~20 cents off the session high. Feb futures have seen a$1.15 range so far for the last trade day of the week. The National Average Base Hog price was $2.61 weaker to $51.71. The CME Lean Hog Index fell by 17 cents to $69.43 for 12/05. Â
The December WASDE increased Q4 2023 pork production by 25 million lbs to 7.065 billion for a full year 27.242 billion pounds. 2024’s outlook was left UNCH at 27.730 billion lbs. Â
The National Pork Carcass Cutout Value was 17 cents stronger on Thursday afternoon to $83.37. USDA reported FI hog slaughter for the week at 1.946 million head through Thursday, compared to 1.93m last week and 1.956 million during the same week last year. Â Â
Feb 24 Hogs are at $68.250, up $0.475,Â
April 24 Hogs are at $75.225, up $0.600Â
Feb 24 Pork Cutout is at $82.700, up $1.450,Â
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.
/Intel%20Corp_%20Santa%20Clara%20campus-by%20jejim%20via%20Shutterstock.jpg)
/AI%20(artificial%20intelligence)/Businessman%20touching%20the%20brain%20working%20of%20Artificial%20Intelligence%20(AI)%20Automation%20by%20Suttiphong%20Chandaeng%20via%20Shutterstock.jpg)
/EV%20in%20showroom%20by%20Robert%20Way%20via%20Shutterstock.jpg)
