The lean hog market is trading mostly in the black and near the session highs with 7 to 35 cent gains at midday. The lead month April contract is the resounding exception with a $1.40 loss at midday and at the day’s low. USDA’s National Average Base Hog price was dropped $2.82 on Friday afternoon to $72.67. The CME Lean Hog Index was $79.91 up by 13 cents for 2/27.
Pork cutout futures were 70 cents stronger on Friday. The Pork Carcass Cutout Value for Friday was up a strong $4.23 on Friday afternoon to $94.45. Bellies led the way with a $20.59 increase to $137.03. The week’s pork output was reported at551.1m lbs from a 2.549m head slaughter. Pork output dipped 1.4% vs last week but was up 0.6% from the same week last year as slaughter was down 1.1% and was 1% higher respectively. The YTD hog slaughter reached 22.848m head vs 22.561m head at the same point last year.
April 24 Hogs are at $86.725, down $1.350,
May 24 Hogs are at $92.125, up $0.075
April 24 Pork Cutout is at $94.000, up $0.700,
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