The front month lean hog futures were up by 40c at the day’s high and down by 65c (June by $1) at the session low for a relatively tight trading range. Futures were nearer their lows for the bell, with 50 to 92 cent losses on the day. June futures are now down by $2.20 for the week to date. USDA’s National Average Base Hog price for Wednesday was $0.46 higher to $81.24. The CME Lean Hog Index was $82.82 on 3/18, 28 cents stronger.
USDA’s National Pork Carcass Cutout Value dropped by $1.19 in the PM report on Wednesday to $92.18. The week’s FI hog slaughter was estimated at 1.462m head through Wednesday. That compares to 1.425m head last week and is above the 1.431m head during the same week last year.
Apr 24 Hogs closed at $85.300, down $0.525,
May 24 Hogs closed at $90.975, down $0.975
Apr 24 Pork Cutout closed at $92.525, down $1.125,
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