The April contract is back to the 18-wk moving average after a $2.07 gain on the day. The other front months were $0.77 to $1.60 higher at the close. USDA’s National Average Base Hog price was $1.19 higher on Tuesday afternoon to $77.35. The CME Lean Hog Index dropped by 7 cents to $81.41 on 3/8.
The USDA national Pork Carcass Cutout Value was $1.04 weaker on Tuesday afternoon to $92.47. USDA estimated FI hog slaughter at 491k head for a weekly running total of 946k head. That compares to 947k head last week and 972k head during the same week last year.
Apr 24 Hogs closed at $85.350, up $2.075,
Jun 24 Hogs closed at $102.200, up $1.150
Apr 24 Pork Cutout closed at $92.500, up $0.300,
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