Hog Futures Extending Pullback

Lean hog futures are off their lows into midday, but still 22 to 27 cents in the red. USDA’s National Average Base Hog price was withheld for confidentiality on Monday morning, the Friday afternoon quote was $63.79. The CME Lean Hog Index was $74.02 on 2/6, up by another 16 cents.  

USDA’s National Pork Carcass Cutout Value was up by $3.47 in the Monday morning update to $89.44. Hams were the driver with a $9.91 increase. The weekly pork production was shown at 570.4 million lbs. That was 2.8% lower for the week but was up 6.7% yr/yr. Hog slaughter was down 2.6% for the week with 2.622m head 

Feb 24 Hogs  are at $73.700, up $0.025,

April 24 Hogs  are at $80.850, down $0.300

Feb 24 Pork Cutout  is at $85.800, up $1.100,

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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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