Pigs feeding from trough in pen
Lean hog futures are trading with session gains of $0.92 to $2.87. That has June contracts at new LoC highs with a $6.42 gain for the week so far. USDA’s National Average Base Hog price was $1.19 stronger to $87.23 on Thursday afternoon. The 4/2 CME Lean Hog Index was another 23 cents stronger to $85.15.
USDA’s National Pork Carcass Cutout Value was up by $3.24 for Thursday afternoon to $98.15. Bellies were up by $11.53 to $131.87 cwt. The USDA FI hog slaughter estimate for the week through Thursday was 1.829 million head. That’s compared to 1.946m for last week and 1.93 million during the same week last year.
April 24 Hogs are at $89.250, up $0.900,
May 24 Hogs are at $97.200, up $2.125
Jun 24 Hogs are at $107.475, up $2.475,
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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