Hogs Up $2.60 For the Week
Lean hog futures ended Thursday with 5 to 52 cent gains. Feb traded from -65 to +98 cents on the day. USDA’s National Average Base Hog price for increased 22 cents on Thursday afternoon to $45.49. The 1/9 CME Lean Hog Index firmed up by another 63 cents to $66.46.
The week’s pork export booking was reported at 23.3k MT for the start of the 2024 marketing year. That was a 2-wk high led by sales to Mexico, Japan, and South Korea.
USDA’s National Pork Carcass Cutout Value was $2.12 weaker on Thursday to $84.54. USDA reported the week’s FI hog slaughter at 1.809 million head for the week through Thursday. That compares to 1.925m head for the same week last year.
Feb 24 Hogs closed at $72.600, up $0.525,
Apr 24 Hogs closed at $79.050, up $0.100
Feb 24 Pork Cutout closed at $86.475, up $0.975,
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.
