Lean hog futures are down by 42 cents to $1.20 so far, further widening the April discount to the deferred contracts. USDA’s National Average Base Hog price was down by 37 cents to $72.88 in the Tuesday morning quote. The CME Lean Hog Index was 11 cents higher on 2/29 to $80.26.
The Pork Carcass Cutout Value dropped another $1.24 this morning to $91.58 as bellies fell by $12.50. USDA reported the FI pork slaughter at 493k head compared to 492k last week and up from 465.7k head during the same week last year.
April 24 Hogs are at $84.975, down $1.300,
May 24 Hogs are at $91.150, down $0.825
April 24 Pork Cutout is at $92.500, down $0.875,
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