Hogs Close Mixed on Monday
Front month lean hog futures were weaker in Feb and April, but stronger in the May and June contracts for a mixed Monday of less than 32 cents on either side of UNCH. The National Average Base Hog price for Monday afternoon was 40 cents higher at $48.39. The CME Lean Hog Index for 12/14 was $67.15, down by another 60 cents.
China’s November pork imports were shown at 90k MT according to a Customs data release. That is 48% below Nov ’22, and set the year to date total at 1.46 MMT. Last year’s pork imports were 1.56 MMT.
Pork cutout futures were also near the UNCH mark for the close, but prices were mostly higher within 10c of UNCH. The National Pork Carcass Cutout Value for Monday was 36 cents weaker to $83.97 on mixed primals. The Monday FI hog slaughter was estimated at 489k head compared to 462k last week and 481k during the same week last year.
Feb 24 Hogs closed at $71.575, down $0.325,
Apr 24 Hogs closed at $78.575, down $0.050
Feb 24 Pork Cutout closed at $81.725, up $0.000,
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.
