Piglets in a_ pasture
A triple digit push has the midday hog market $0.87 to $2.32 higher in the front months, extending the rally for a 6th session. Tuesday’s AM National Average Base Hog price was $61 flat with no comparison to Monday given confidentiality rules. The CME Lean Hog Index for 1/25 was $69.90 up by 23 cents.
USDA’s National Pork Carcass Cutout Value was back up by 7 cents in the AM quote to $89.14. Bellies fell by $9.55. 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 are at $76.150, up $0.875,
April 24 Hogs are at $85.800, up $2.375
Feb 24 Pork Cutout is at $88.800, up $1.375,
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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