The bonus day for the month of Feb has lean hog futures trading 72 to $1.10 higher. April hogs have seen a $9.23 range through the month of February, and are at a net $2.15 gain for the month. USDA’s National Average Base Hog price was withheld to protect confidentiality this morning, from $74.47 on Wednesday afternoon. The CME Lean Hog Index was $79.78 on 2/26, up by 32 cents.
The weekly pork Export Sales were 32.4k MT for the week ending 2/22. That was a 12% increase for the week led by sales to Mexico and South Korea. USDA had shipments at 33k MT for the week for a yearly total of 257.2k MT. That remains 10% ahead of last year’s pace.
The Pork Carcass Cutout Value for Thursday morning was 16 cents stronger at $90.50. 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.
April 24 Hogs are at $86.625, up $0.625,
May 24 Hogs are at $91.025, up $0.575
April 24 Pork Cutout is at $93.300, unch,,
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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