Hogs Extend Rally on Tuesday
Front month lean hog futures were $0.27 to $1.27 higher on the day. That left the Feb contract at a net weekly gain of $1.87. USDA’s National Average Base Hog price was 41 cents stronger on Tuesday afternoon to $45.31. The CME Lean Hog Index was $65.74 on 1/5, down by 11 cents.
The National Pork Carcass Cutout Value for Tuesday was 49 cents weaker on Tuesday to $84.53. USDA reported Tuesday’s FI hog slaughter at 395k head for a weekly total of 863k head. That compares to 952k head during the same week last year.
Feb 24 Hogs closed at $71.875, up $1.275,
Apr 24 Hogs closed at $78.500, up $0.975
Feb 24 Pork Cutout closed at $85.750, up $2.200,
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.
