Lean hogs finished the first trade day of the week with 45 to 65 cent gains. Dec traded in a $1.20 range. USDA’s National Average Base Hog price was $1.47 stronger in the Monday PM report at $68.55. The 11/02 CME Lean Hog Index dropped another 39 cents to $76.45.
Pork cutout futures also finished in the black with 65 cent gains across the nearby contracts. USDA’s National Pork Carcass Cutout Value was $4.33 stronger on Monday to $91.61. Bellies led the way with a $14.86 increase to $122.41. Federally inspected hog slaughter was estimated at 487k head for Monday. That compares to 475k last week and 491k head during the same Monday last year.
Dec 23 Hogs closed at $72.400, up $0.650,
Feb 24 Hogs closed at $75.950, up $0.475
Dec 23 Pork Cutout closed at $80.750, up $0.650,
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.
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