Hogs are trading 10 to 47 cents weaker so far for Monday, led by a 0.6% pullback in the Feb contract. On net the Feb contract had finished last week on a $2.92 gain, but had seen another wide range of $5.75 during the week. USDA’s National Average Base Hog price was 98 cents higher on Monday morning at $49.41. The CME Lean Hog Index for 12/13 was $67.75, down by 13 cents.
The National Pork Carcass Cutout Value was $2.53 stronger on Monday morning to $86.86, led by a strong increase for picnic cuts. The USDA reported 579.3m lbs of pork output for last week. That was up 1.1% from last week and 3.7% from the same week last year. Hog slaughter was 0.6% more than the week prior and 4.2% above the same week last year with 2.689m head harvested. The yearly total reached 122.688m head and 26.164b lbs of pork, compared to 26.012b lbs on 120.7m head last year.
Feb 24 Hogs are at $71.300, down $0.600,
April 24 Hogs are at $78.125, down $0.500
Feb 24 Pork Cutout is at $81.725, unch,,
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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