Lean pork futures weakened 35 cents in the February contract, but gained 15 to 50 cents in the spring delivery months. April hogs are now a $7.35 premium through February, while June is a $13.62 premium through April. USDA’s National Average Afternoon Base Hog price was $48.04 for Thursday, up 97 cents. The CME Lean Hog Index for 1/16 was $67.34, up 49 cents.
USDA’s National Pork Carcass Cutoff Value was 77 cents stronger at $88.73. USDA’s FI pig slaughter for the week to Thursday was figured as 1.81m head compared to 1.83m head for the same week last year.
Feb 24 Hogs closed at $71.100, down $0.350,
Apr 24 Hogs closed at $78.450, up $0.475
February 24 Pork closed at $85.675, up $0.300,
As of 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 for informational purposes only. For more information, please see Barchart’s 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.