Midday Movement

Hogs are holding steady to 25 cents in the red for the midday prints. The April contract has traded between -30 and +60 cents for the day. In the previous session, hog futures ended with gains ranging from 15 to 45 cents, although the April contract fell $1.10 short of the session high for the closing bell.

Price Figures

USDA’s National Average Base Hog price was listed at $72.48 for Wednesday morning, with no comparison to yesterday. The CME Lean Hog Index increased by 46 cents to $75.75 for 2/16. Furthermore, the USDA’s National Pork Carcass Cutout Value showed a decrease of $1.45, down to $90.99 on Wednesday morning.

Additionally, USDA reported Tuesday’s FI hog slaughter at 490k head, which is up from 486k head last week and 482k head at the same time last year. The week-to-date total reached 980k head following President’s Day.

Current Futures

April 24 Hogs  are at $85.650, down $0.025, while May 24 Hogs  are at $88.850, down $0.150. Meanwhile, April 24 Pork Cutout  is at $91.500, unchanged.

On the date of publication, Alan Brugler did not have any positions in any of the securities mentioned in this article. All the information and data in this article is solely for informational purposes.

The views and opinions expressed herein are the author’s and do not necessarily reflect those of Nasdaq, Inc.