Hogs Rounding Out the Week Higher

Friday hog future trading has the board 37 to 95 cents in the black at midday. That has Feb futures at a net weekly gain of $1.42 for the week. USDA’s National Average Base Hog price was $44.38 on Friday morning, down by $1.16. The CME Lean Hog Index for 01/02 was $65.19, back up by 14 cents. 

USDA’s weekly Export Sales report had 17.8k MT of pork sales for the week ending 12/28. That was a new low for the 2023 year. The 21,950 MT of exports ended 2023 with 1.569 MMT shipped. 

The National Pork Carcass Cutout Value for Friday morning was 33c stronger at $84.33. USDA estimates FI hog slaughter for the week through Thursday at 1.452m head. That is 21k head behind the same week last year. 

Feb 24 Hogs  are at $69.425, up $0.375,

April 24 Hogs  are at $75.700, up $0.750

Feb 24 Pork Cutout  is at $82.825, up $1.100,

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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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