Black and brown pig in green pasture
Hog futures were in the black at the close, though by more than $1 under the day’s highs. Futures went home 7 to 35 cents higher across the front months. USDA’s National Average Base Hog price increased was $74.47 on Wednesday, up by $1.77. The CME Lean Hog Index was $79.78 on 2/26, up by 32 cents.
The Pork Carcass Cutout Value faded by $1.53 to $90.34 on Wednesday afternoon. Bellies were down by $7.99 to $119.91. USDA estimated the FI hog slaughter at 1.474m head for the week through Wednesday. That is up from 1.47m last week and from 1.44m during the same week last year.
Apr 24 Hogs closed at $86.000, up $0.100,
May 24 Hogs closed at $90.450, up $0.075
Apr 24 Pork Cutout closed at $93.300, down $0.000,
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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