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Hogs in Red at Midday
BRUG - Fri Mar 27, 11:36AM CDT

Lean hog futures are down the expanded limit in the May and June contracts, April hogs are $3.75 lower so far. The CME Lean Hog Index for March 25th was $66.17, up another $1.05, still ignoring the futures action. The National Average Base Hog price was delayed due to packer submissions, it was $58.89 yesterday afternoon. USDA’s Hogs and Pigs report showed March 1st inventory at 77.629 million head, which was up 3.98% yr/yr. The trade average guess was 3.4%. The breeding herd reached 6.375 million head, which is 100.41% of year ago. Pig crop though Dec-Feb was 34.734 million pigs, which was 4.7% higher yr/yr; traders were expecting a 3.5% increase. USDA’s Pork Carcass Cutout value was $74.76 cwt. this morning, down $2.85. Ribs and hams were higher while the other primal cuts were weaker. USDA estimated WTD FI hog slaughter at 1.990 million head through Thursday. That is up 3,000 head wk/wk.

Apr 20 Hogs are at $59.150, down $3.750,

May 20 Hogs are at $57.625, down $4.500

Jun 20 Hogs are at $64.250, down $4.500

--- provided by Brugler Marketing & Management

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