Heading into Friday the April lean hog contract is at a net 17c loss for the week, while Feb is down by 80 cents. Lean hog futures weakened 35 cents in the Feb contract, but gained 15 to 50 cents in the spring delivery months on Thursday. April hogs are now a $7.35 premium to Feb, while June is a $13.62 premium to April. USDA’s National Average Afternoon Base Hog price $48.04 for Thursday, up by 97 cents. The CME Lean Hog Index for 1/16 was $67.34, up by another 49 cents.
USDA’s National Pork Carcass Cutout Value was 77 cents stronger at $88.73. USDA’s FI hog slaughter for the week through Thursday was figures as 1.81m head compared to 1.83m head during the same week last year.
Feb 24 Hogs closed at $71.100, down $0.350,
Apr 24 Hogs closed at $78.450, up $0.475
Feb 24 Pork Cutout closed at $85.675, up $0.300,
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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