Lean hog futures are still trading 45 to 72 cents in the red through midday, though the April contract is 70 cents off the session low. USDA’s National Average Base Hog price was delayed on Wednesday morning, but was $1.19 higher on Tuesday afternoon at $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 delayed on Wednesday morning, citing packer submissions, from $92.47 on Tuesday afternoon. 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.
April 24 Hogs are at $84.600, down $0.750,
May 24 Hogs are at $91.475, down $0.725
April 24 Pork Cutout is at $92.500, up $0.300,
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