Pig grazing in field
Hogs dropped by triple digits to start the week after the strong net buying last week. Futures were down $1.05 to $1.62 on the day. Feb OI was listed at 25k contracts for Monday’s start. USDA’s National Average Base Hog price fell 48 cents on Monday morning to $62.01. The CME Lean Hog Index was $72.71 on 1/31, up by 33 cents.
USDA’s National Pork Carcass Cutout Value fell 80 cents on Monday to $87.60. USDA reported FI hog slaughter was 490k head for Monday. That compared to 492k head last week and was up from 478k head during the same week last year.
Feb 24 Hogs closed at $74.400, down $1.050,
Apr 24 Hogs closed at $82.200, down $1.625
Feb 24 Pork Cutout closed at $86.150, down $1.100,
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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