Lean hog futures posted gains of 75 cents to $1.67 on Monday. The national average base hog negotiated price was reported at $80.39 on Monday afternoon, up a penny from the day prior. The CME Lean Hog Index was reported at $81.92 on January 23, down 1 cent from the previous day.
Cold Storage data indicated a total of 400.398 million lbs of pork stocks at the end of December, which was a 2.37% increase from last month but still down 6.3% from last year.
USDA’s FOB plant pork cutout value was $1.47 higher in the Monday PM report at $93.16 per cwt. The ham and picnic primals were the only reported lower, with gains in the loin, butts, and ribs leading the charge. Federally inspected hog slaughter for Monday was at 483,000 head. That 61,000 head above last Monday but down 6,224 head from the same Monday last year.
Feb 25 Hogs closed at $83.050, up $0.750,
Apr 25 Hogs closed at $89.875, up $1.675
May 25 Hogs closed at $94.400, up $1.525,
On the date of publication, Austin Schroeder 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.