Lean Hog Rally for Wednesday
Hogs close Wednesday with $0.60 to $1.70 gains. April finished the day at levels not seen since mid-Nov. USDA’s National Average Base Hog price for Wednesday was $53.10 after increasing $5.76. The CME Lean Hog Index was 35c stronger on 1/22 to $68.75.
Front month pork cutout futures ended the day mixed with a 5c loss for Feb, but a 95c gain for May. USDA’s National Pork Carcass Cutout Value was 83c stronger to $88.86. Bellies were up $7.78 to $143.39. USDA estimated FI hog slaughter at 493k head for a weekly total of 1.455m head. That compares to 1.475m head last week.
Feb 24 Hogs closed at $73.900, up $0.600,
Apr 24 Hogs closed at $82.025, up $1.700
Feb 24 Pork Cutout closed at $87.350, down $0.050,
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.
