Lean hogs are showing limit losses in the June contracts, with most other nearbys down $2 to $3.55. April expires today and is just 52 cents lower. USDA’s National Average Base Hog price was down $85.42 in the Friday AM report at $85.42. The CME Lean Hog Index was another $1.06 higher at $89.84 on April 10.
USDA’s National Pork Carcass Cutout Value was back down 71 cents in the Friday morning report, at $100.58. The loin and butt were the only primals to be reported higher. USDA estimated Thursday’s federally inspected hog slaughter at 491,000 head, bringing the weekly total to 1.919 million head. That is 90,000 head above last week and a 138,942 head increase from the same week last year.
Apr 24 Hogs are at $90.950, down $0.500,
Jun 24 Hogs are at $102.050, down $3.750
Jul 24 Hogs is at $104.075, down $3.550,
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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