Front month lean hog futures closed Tuesday with mostly 27 to 80 cent gains. May contracts were up $1.17 on the day, pushing to a new LOC high. USDA’s National Average Base Hog price was $95.83, down by $0.54. The CME Lean Hog Index was $97.38 on 3/26 after another $1.41 bump.
Pork cutout futures were steady to 60 cents to $1.20 higher on the day. USDA’s National Pork Carcass Cutout Value was 95 cents lower on Tuesday at $106.89. USDA estimates Tuesday’s FI hog slaughter at 490,000 head. The WTD slaughter is estimated at 973,000 head, down from 986k at this point last year.
Apr 21 Hogs closed at $100.925, up $0.550,
Jun 21 Hogs closed at $106.025, up $0.800
Apr 21 Pork Cutout closed at $110.600, up $0.950,
<p>Market Commentary provided by:<br /> <img src="https://s3.amazonaws.com/images1.aws.barchart.com/logos/bruglerlogo.gif" border="0" /><br /> Brugler Marketing & Management LLC<br /> 1908 N. 203rd St.Omaha, NE 68022<br /> Phone: 402-697-3623<br /> Fax: 402-289-2353<br /> E-mail: <a href="mailto:alanb@bruglermktg.com">alanb@bruglermktg.com</a><br /> Web: <a href="http://bruglermarketing.com/">http://bruglermarketing.com</a></p>
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