The lean hog futures market is trading at the lows for the day with prices $1.20 to $2.20 in the red. Monday morning’s National Average Base Hog price was withheld due to confidentiality, on Friday afternoon the quote was 17 cents higher at $51.88. The CME Lean Hog Index for 12/06 was $69.12, down by another 31 cents.
USDA’s National Pork Carcass Cutout Value for Monday morning was $87.50, up by $1.83 with a strong bellies quote. USDA’s weekly summary had pork output at 575.8 million lbs, matching last week and 3.1% above the same week last year. The yearly total production was listed at 25.581 billion lbs – 0.5% above last year’s pace. FI hog slaughter for the week was 2.687m head, 0.3% lighter than last week, but up 4.2% from the same week last year. The yearly total remains 1.6% ahead of last year’s pace with 120.02 million head.
Feb 24 Hogs are at $67.175, down $1.800,
April 24 Hogs are at $74.925, down $1.225
Feb 24 Pork Cutout is at $82.700, up $1.450,
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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