Front month lean hog futures ended the session with 30 to 35 cent gains to May, but 5 to 20 cent losses across the other nearbys. That left April at a net 75 cent loss for the week’s move through the first two sessions. USDA’s National Average Base Hog price was up by $2.37 to $72.62 on Wednesday afternoon. The CME Lean Hog Index Was another $1.05 stronger to $76.80 on 2/19.
USDA’s National Pork Carcass Cutout Value was another $2.27 weaker on Wednesday afternoon to $90.17. Bellies were down by $10.11 in the PM report. USDA reported FI hog slaughter at 1.47 million head for the week through Wednesday, which is up from 1.466m head last week and compares to 1.362m during the same week last year.
Apr 24 Hogs closed at $85.975, up $0.300,
May 24 Hogs closed at $89.350, up $0.350
Apr 24 Pork Cutout closed at $92.000, up $0.500,
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