June hog futures spiked their 18-wk moving average at the daily low, but closed above it as futures have mostly been above that moving average since early Jan. At the close the front months were $1 to $1.77 weaker. USDA’s National Average Base Hog price increased by $1.12 on Tuesday to $80.78. The CME Lean Hog Index increased 20 cents for 3/15 to $82.54.
USDA’s National Pork Carcass Cutout Value was shown 21 cents stronger at $93.37 for Tuesday afternoon. The bellies were quoted at $129 even. CME’s Fresh Bacon Index was 69 cents weaker for the week at $163.44. USDA estimates the federally inspected hog slaughter at 491k head for Tuesday. That set the weekly total at 972,000 head, a 33k head increase from last week and up from 948k head during the same week last year.
Apr 24 Hogs closed at $85.825, down $1.000,
May 24 Hogs closed at $91.950, down $1.475
Apr 24 Pork Cutout closed at $93.650, down $0.000,
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