Lean hog futures are in freefall mode on Wednesday, with exception to April, up 87 cents. The rest of the front months are down $1.72 to $3.45 at midday. USDA’s National Average Base Hog price was reported at $89.53 in the Wednesday morning report. The CME Lean Hog Index was another 83 cents higher at $87.88 on April 8.
USDA’s National Pork Carcass Cutout Value was 17 cents higher in the Wednesday AM print, at $100.88. Most primals were higher, with the ham (-$0.10) and belly (-$8.63) reported lower. USDA estimated Tuesday’s federally inspected hog slaughter at 480,000 head, bringing the weekly total to 946,000 head after a revision to Monday. That is 99,000 head above last week and a 113,343 head increase from the same week last year.
Apr 24 Hogs are at $91.475, up $0.875,
Jun 24 Hogs are at $105.125, down $3.450
Apr 24 Pork Cutout is at $100.725, up $0.775,
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.
