Monday Market Recap
Front month hog prices displayed resilience with a mostly upward trajectory on Monday, although April witnessed a marginal dip of ten cents. The later months exhibited strength, closing between 25 to 80 cents higher at the session’s end. USDA’s National Average Base Hog price experienced a slight setback of 28 cents to stand at $79.66. Concurrently, the CME Lean Hog Index for March 14 surged by 25 cents, reaching $82.34.
Industry Indicators
The USDA’s National Pork Carcass Cutout Value for Monday experienced a minor decline of 31 cents, settling at $93.16. Noteworthy data from the USDA indicated that hog slaughter for the day amounted to 486k head, marking an increase from the previous week’s 455k head and surpassing the 460k head recorded during the equivalent period last year.
Market Closures:
Apr 24 Hogs: Closed at $86.825, down $0.100
May 24 Hogs: Closed at $93.425, up $0.250
Apr 24 Pork Cutout: Closed at $93.650, up $0.500
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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