Hogs are still down by triple digits for the week’s move at Friday’s midday, though futures are firming up some into the weekend with the board 20 to 55 cents in the black for the day. USDA’s National Average Base Hog price was listed at $80.52 on Friday morning, down by another 33 cents. The CME Lean Hog Index for 3/19 was 39 cents stronger to $83.21.
Pork cutout futures are down by as much as 85 cents through midday, though volume and OI remain thin. USDA’s National Pork Carcass Cutout Value was $94.59 on Friday morning, up by $2.51. The rib primals recovered in the AM report with a +$15.93 quote of $181.77. The week’s FI hog slaughter was estimated at 1.952 million head through Thursday. That compares to 1.898m last week and 1.923 million during the same week last year.
April 24 Hogs are at $84.475, down $0.425,
May 24 Hogs are at $90.300, up $0.400
April 24 Pork Cutout is at $92.425, down $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.
