Mixed Mostly Lower Midday for Hogs
Hogs are up by 25 cents at midday in the April contract, while the other front months are down by 40 to 47 cents. USDA’s National Average Base Hog price was $2.06 stronger in the Thursday AM quote at $47.90. The CME Lean Hog Index was $66.85 on 1/15, up by 30 cents.
China’s National Bureau of Statistics reported 2023 pork output at 57.94 MMT. That was up 4.6% from 2022 with a 3.8% increased slaughter.
USDA’s National Pork Carcass Cutout Value for Thursday morning was $1.85 stronger to $89.81. USDA’s FI hog slaughter was 1.321m head for the week through Wednesday. That compared to 1.319m last week and 1.392m during the same week last year.
Feb 24 Hogs are at $71.100, down $0.350,
April 24 Hogs are at $78.225, up $0.250
Feb 24 Pork Cutout is at $85.825, up $0.450,
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.
