Hogs Close Tuesday Weaker
Front month lean hog futures ended the session with 50c to $1.02 losses on the Tuesday session. Feb is now at a $7 discount to the April contract. The National Average Base Hog price fell by $1.42 on Tuesday afternoon to $46.97. The CME Lean Hog Index was 56 cents weaker to $66.59 on 12/15.
The National Pork Carcass Cutout Value dropped 91 cents on Tuesday afternoon to $83.06. USDA had quoted the bellies $11.77 lower in the AM report. The Tuesday FI hog slaughter was listed as 491k head for a weekly total of 968k head. That is 32k more than last week’s pace but trails the same week last year by 3k head.
Feb 24 Hogs closed at $70.550, down $1.025,
Apr 24 Hogs closed at $77.600, down $0.975
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.
