Hogs Rally on Tuesday
Lean hogs rallied as much as 3.5% with triple digits gains. USDA’s National Average Base Hog price was shown at $47.41 this morning, up by $1.18. The CME Lean Hog Index for 1/18 was listed at $68.06, up by another 19 cents.
China’s National Bureau of Statistics had 2023 pork production at 57.94 MMT, up 4.6% yr/yr.
USDA’s National Pork Carcass Cutout Value fell $2.14 to $88.03. USDA estimated FI hog slaughter was 454k head for a week’s total of 970k head. That compares to 987k head from the same week last year.
Feb 24 Hogs closed at $73.300, up $2.375,
Apr 24 Hogs closed at $80.325, up $2.700
Feb 24 Pork Cutout closed at $87.400, up $1.800,
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.
