Hogs Rallying into Weekend
Lean hog futures are trading $0.82 to $1.02 higher so far across the front months. April futures were a net $1.80 higher for the month, and are sitting at a net 45c gain for the week so far. USDA’s National Average Base Hog price was $71.42 on Friday morning. The CME Lean Hog Index was $79.91 up by 13 cents for 2/27.
The Pork Carcass Cutout Value shot $5.32 (6%) higher on Friday morning as bellies rose by $25.41 (22%). The quotes were $95.54 and $142.41 respectively. USDA estimated the FI hog slaughter for the week through Thursday at 1.965 million head compared to 1.96m last week and 1.93m during the same week last year.
April 24 Hogs are at $87.525, up $0.900,
May 24 Hogs are at $91.500, up $0.775
April 24 Pork Cutout is at $93.000, down $0.300,
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.
