The hog market pushed lower on Wednesday, but futures were off their lows for the close. The April contract was down by $1.40 at the day’s low before settling 47 cents in the red. USDA’s National Average Afternoon Base Hog price was up by $1.08 to $78.43 on Wednesday. The CME Lean Hog Index was back up by 20 cents on 3/11 to $81.61.
The USDA national Pork Carcass Cutout Value was $91.84 on Wednesday afternoon. That was down by 63 cents as all but the ham and rib primals also weakened. FI hog slaughter for the week was 1.432m head through Wednesday. That is 3,000 head behind last week’s pace, and is down 20.5k head vs the same week last year.
Apr 24 Hogs closed at $84.875, down $0.475,
May 24 Hogs closed at $91.850, down $0.350
Apr 24 Pork Cutout closed at $92.600, up $0.100,
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 Disclosure Policy here.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
