Mixed Close for Midweek Hog Futures
Lean hog futures tried to firm up after a weak start to the week, though prices faded into the close and ended mixed within 40c of UNHC. USDA’s National Average Base Hog price increased by 92 cents to $66.37. The CME Lean Hog Index for 2/2 was cited at $73.56, up by another 44 cents.
December pork exports came in at 643.8 million lbs via converted Census data. That was the second largest Dec on record after 2019. Dec pork shipments were also up 6% for the month and were the most for any month going back to May ’21.
USDA’s National Pork Carcass Cutout Value for Wednesday afternoon was $2.24 weaker to $83.99. Bellies were shown $7.33 lower to $124.18. FI hog slaughter was up to 1.466m head for the week through Wednesday. That compares to 1.473m head last week and 1.434m head during the same week last year.
Feb 24 Hogs closed at $73.375, down $0.100,
Apr 24 Hogs closed at $81.100, down $0.150
Feb 24 Pork Cutout closed at $83.925, down $0.725,
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.
