Hogs Closed with Losses
Lean hog futures fell by triple digits with a $1.52 loss in the Feb contract, which ended 50 cents off the low. USDA’s National Average Base Hog price increased by 88 cents to $49.65. The report showe the WCB price as $49.60 and the ECB price as $49.71. The CME Lean Hog Index was 83 cents lower on 12/08 to $67.93.
USDA’s National Pork Carcass Cutout Value was shown as $83.93 for the PM report on Wednesday, which was down by 3 cents. USDA estimated FI hog slaughter for the week at 1.425 million head, down from 1.458m last week and compared to 1.456m head during the same week last year.
Feb 24 Hogs closed at $66.725, down $1.525,
Apr 24 Hogs closed at $74.375, down $1.100
Feb 24 Pork Cutout closed at $81.725, down $0.725,
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.
