Pork Futures: April Led The Gains In Lean Hog Futures

KANSAS CITY - April led the gains in lean hog futures Monday, finishing higher on expectations of firmer cash prices along with support from bull spreading.
calendar icon 3 April 2007
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April closed up 117 points at 65.02 cents. May closed down 90 points at 75.00, and most-active June finished up 12 at 75.52. A broker said April's expiration will occur "a little later than normal" this month due to the way the calendar falls and due to no trading in CME livestock futures on Good Friday. April's expiration on the 10th trading day of the month will be on Monday, April 16. That gives the market plenty of time to resolve the current spread and premium in futures to cash, the broker said.

Jason Roose, analyst with U.S. Commodities in West Des Moines, Iowa, said "it looks like cash (hog) prices have stabilized." Also, with April soon to expire, eyes will turn to May and June with better demand for pork into the summer. Higher beef values and the recent drop in pork prices should help demand for pork, he said.

April hit nearly a two-week high and closed at the highest level since March 15.

Source: FXSTREET.com

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