Hog Futures Trading Mixed on Monday
Nearby lean hog futures are 5 to 40 cents lower in Feb and April, but 10 to 20 cents stronger in the deferred contracts. The Feb-June spread is now $21.67. USDA’s National Average Base Hog price was withheld for confidentiality on Monday morning, after being quoted $1.64 higher at $56.27 for Friday afternoon. The CME Lean Hog Index was $69.67 on 1/24, up by another 28 cents.
USDA’s National Pork Carcass Cutout Value was 2c weaker to $89.49. Bellies were up by $4.13, though butts fell by $6.06. USDA reported 592.3 million lbs of pork was produced during the week, with 2.719m head of hogs harvested. Slaughter was 3.4% above last week and pork output was up by 3.7%.
Feb 24 Hogs are at $74.425, down $0.500,
April 24 Hogs are at $83.250, unch,
Feb 24 Pork Cutout is at $87.400, down $0.050,
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.