Hogs Continue Marching Higher

Pigs feeding from trough in pen

Hog futures were off their highs for the close, but were up by triple digits on Wednesday and to 3-wk highs earlier in the session. The front months settled Wednesday $1 to $1.42 in the black. USDA’s National Average Base Hog price was $86.04 on Wednesday, up by $1.33. The 4/1 CME Lean Hog Index was 14 cents higher at $84.92. 

USDA’s National Pork Carcass Cutout Value was back $2.22 weaker on Wednesday afternoon to $94.91. USDA estimated FI hog slaughter for the week through Wednesday at 1.338m head. That compares to 1.457m head last week and 1.446m head during the same week last year.  

Apr 24 Hogs  closed at $87.975, up $1.425,

May 24 Hogs  closed at $95.000, up $1.325

Apr 24 Pork Cutout  closed at $97.800, up $0.825,

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.