Hogs are trading near their lows at midday with 40 to 70 cent losses across the front months. June futures are now down by $1.80 for the week’s move. USDA’s National Average Base Hog price for Wednesday morning was $1.11 higher at $80.97. The CME Lean Hog Index increased 20 cents for 3/15 to $82.54.
USDA’s National Pork Carcass Cutout Value dropped by 99 cents in the AM report to $92.38. 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.
April 24 Hogs are at $85.275, down $0.550,
May 24 Hogs are at $91.300, down $0.650
April 24 Pork Cutout is at $93.650, unch,,
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