Front month hog futures were down by 17 cents to $1.10 across at the midweek settle. The June contract led the way lower, tightening the April/June spread to $15.50. USDA’s National Average Afternoon Base Hog price increased by $1.59 to $76.22. The CME Lean Hog Index for 3/4 was $80.87, up by 46 cents.
The USDA national Pork Carcass Cutout Value increased by 6 cents to $91.49, despite a $4.27 drop in the hams. USDA cited FI hog slaughter as 1.435 million head for the week through Wednesday. That is down from 1.474m head last week but is 6k head ahead of the same week last year.
Apr 24 Hogs closed at $85.000, down $0.175,
May 24 Hogs closed at $90.775, down $0.800
Apr 24 Pork Cutout closed at $92.425, down $0.075,
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