Feb hogs ended the day with a net 17 cent gain, which tightened the spread to April by 69 cents to $6.70, as the spring months fell on Monday. April closed down by 52 cents for the day. USDA’s National Average Base Hog price was shown at $46.53 in the afternoon update, down by 9 cents. The CME Lean Hog Index for 1/18 was listed at $68.06, up by another 19 cents.
Pork cutout futures finished mixed within 20 cents on Monday as OI remains thin. USDA’s National Pork Carcass Cutout Value was $1.61 stronger in Monday’s afternoon report at $90.17. Bellies and rib primals were up the most in the update. USDA estimated FI hog slaughter at 492k head for Monday. That compares to 378k head last week and 493.7k head during the same week last year.
Feb 24 Hogs closed at $70.925, up $0.175,
Apr 24 Hogs closed at $77.625, down $0.525
Feb 24 Pork Cutout closed at $85.600, up $0.200,
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