Lean hogs fell by 10 cents to 52 on the second trade day of the week. USDA’s National Average Base Hog price increased by $1.79 to $72.70. The CME Lean Hog Index was $79.46 which was 6 cents stronger for 2/23.
Monthly Cold Storage data from NASS counted 468m lbs of pork in the coolers on January 31. That was up from 427.4m lbs for December but was 9.9% tighter vs Jan ’23. Pork bellies were marked at 64m lbs for Jan, down from the 70 million lb supply last year.
The Pork Carcass Cutout Value was 88 cents stronger on Tuesday afternoon to $91.87. USDA estimated the FI hog slaughter at 491k head for Tuesday, which set the week’s total 492k head. That is up from 490k head last week and compared to 483.5k during the same Monday last year.
Apr 24 Hogs closed at $85.900, down $0.375,
May 24 Hogs closed at $90.375, down $0.375
Apr 24 Pork Cutout closed at $93.300, down $0.000,
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