Hogs Trade Mixed on Feb 4; USDA Data Sheds Light on Supply

Lean hog futures closed mixed on February 4, with contracts ranging 55 cents lower to 30 cents higher. USDA reported the national base hog price at $86.29, up 45 cents from the prior day. The CME Lean Hog Index was up 12 cents at $85.83 on February 2. USDA pork carcass cutout value fell to $93.00 per cwt, with the picnic higher and the belly down $19.49. Estimated federally inspected hog slaughter on February 4 was 495,000 head, bringing the week to 1.416 million, 34,000 head above last week but 32,293 head below the same period last year. Feb 26: HOG @ $88.000, - $0.550 Apr 26: HOG @ $98.450, + $0.300 May 26: HOG @ $101.750, - $0.175 Data source: USDA and CME. The authors have no positions in the securities mentioned herein.