Pigs feeding from trough in pen
Hogs are trading $2 higher in April contracts, tightening the April/June spread to $15.17. The other front month futures are $0.82 to $1.07 higher. USDA’s National Average Base Hog price fro Friday morning was 79 cents stronger to $80.74. The CME Lean Hog Index for 3/12 was 41 cents higher to $82.02.
USDA’s National Pork Carcass Cutout Value was $94.19 on Friday morning after a 94 cent increase. USDA estimated FI hog slaughter at 1.892m head for the week through Thursday. That is 17k head behind last week’s pace and is down 39k head from the same week last year.
April 24 Hogs are at $87.100, up $2.075,
May 24 Hogs are at $92.700, up $1.100
April 24 Pork Cutout is at $92.600, 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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