Hogs Close Tuesday on a Mixed Note
Hogs were up 65 cents in the nearby February contract ahead of Wednesday’s expiration, with other contracts anywhere from 15 cents higher to 22 cents lower. USDA’s National Average Base Hog price was $2.98 higher on Tuesday afternoon to $68.19. The CME Lean Hog Index back up 10 cents on 2/9 to $73.70.
USDA’s National Pork Carcass Cutout Value was down $1.38 at $87.25 on Tuesday afternoon. The hams, loin, and bellies primals were the driver again in the PM report, with each down anywhere from 80 cents to $4.60. Federally Inspected hog slaughter was estimated at 492,000 head for Tuesday, bringing the weekly total to 977,000 head. That is compared to 979,000 head last week and is 21,593 head higher vs the same week last year.
Feb 24 Hogs closed at $74.225, up $0.650,
Apr 24 Hogs closed at $81.075, down $0.050
Feb 24 Pork Cutout closed at $86.425, up $0.625,
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.
