Pig Resting in Pen Hay
Lean hog futures rallied in the last half hour of trade on Monday, extending the rally for a 6th session. That left the board 17 to 35 cents higher for the close. USDA’s National Average Base Hog price was withheld for confidentiality reasons on Monday, after being quoted $1.64 higher at $56.27 for Friday afternoon. The CME Lean Hog Index for 1/25 was $69.90 up by 23 cents.
USDA’s National Pork Carcass Cutout Value was 44 cents weaker to $89.07. USDA reported the Monday hog slaughter at 490k head, up by 7k from last week and by 16k head from the same Monday last year.
Feb 24 Hogs closed at $75.275, up $0.350,
Apr 24 Hogs closed at $83.425, up $0.175
Feb 24 Pork Cutout closed at $87.425, down $0.025,
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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