Hogs Close Red on Tighter Ranged Wednesday

The front month lean hog futures were up by 40c at the day’s high and down by 65c (June by $1) at the session low for a relatively tight trading range. Futures were nearer their lows for the bell, with 50 to 92 cent losses on the day. June futures are now down by $2.20 for the week’s move. USDA’s National Average Base Hog price for Wednesday was $0.46 higher to $81.24. The CME Lean Hog Index was $82.82 on 3/18, 28 cents stronger.  

USDA’s National Pork Carcass Cutout Value dropped by $1.19 in the PM report on Wednesday to $92.18. The week’s FI hog slaughter was estimated at 1.462m head through Wednesday. That compares to 1.425m head last week and is above the 1.431m head during the same week last year. 

 

Apr 24 Hogs  closed at $85.300, down $0.525,

May 24 Hogs  closed at $90.975, down $0.975

Apr 24 Pork Cutout  closed at $92.525, down $1.125,

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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