Hogs Recovering at Midday
After some triple digit losses to start the short week, the wobbly Wednesday action has futures up $0.87 to $1.20. The CME Lean Hog Index was back up by 36 cents on 1/18 to $65.92. Pork cutout futures are 82 to 90 cents in the black at midday. USDA’s National Average Base Hog price was back up by $1.67 in the AM quote to $56.64. The National Pork Carcass Cutout value was up a sharp $4.33 in the AM quote to $81.75. Butts were down $6.10, but offset by +$1 increases for the other primals. USDA’s estimate for Tuesday’s FI hog kill is 498,000 head. The WTD slaughter is 925,000, down from 996,000 head LW but above 905,000 from the same week last year.
| Feb 21 Hogs are at $67.675, up $1.200, |
| Apr 21 Hogs are at $72.500, up $1.075 |
| May 21 Hogs are at $77.650, up $0.875 |
| Feb 21 Pork Cutout is at $78.250, up $0.825, |
--- provided by Brugler Marketing & Management
