The Monday hog market recovered from last week’s late fade. At the close prices were back up by $1.22 in April and $3.50+ in the deferreds. The National Average Afternoon Base Hog price was $102.09 on Monday, down by $1.61. The 3/17 CME Lean Hog Index was 59 cents higher to $101.36.
Pork cutout futures also rallied back with triple digit gains to start the new week. On a $3.35 gain, the July price was just $1.12 under the contract high. USDA’s National Pork Carcass Cutout Value for Monday afternoon was $3.34 lower to $101.61. USDA estimates Monday’s hog slaughter at 478k head. That is 12,000 head above last Monday, but down by 6k head yr/yr.
Apr 22 Hogs closed at $100.625, up $1.225,
May 22 Hogs closed at $111.075, up $3.975
Apr 22 Pork Cutout closed at $106.925, up $0.925,
/Pfizer%20Inc_%20logo%20sign-by%20JHVEPhoto%20via%20iStock.jpg)
/Netflix%20on%20tv%20with%20remote%20by%20freestocks%20via%20Unsplash.jpg)
