Midday lean hog futures are trading with triple digit gains across the front month contracts, though are ~60 cents off the session high. USDA’s National Average Base Hog price was listed at $79.30 after a $1 drop on Friday afternoon. The CME Lean Hog Index for 3/19 was 39 cents stronger to $83.21.
Pork cutout futures went into the weekend UNCH on Friday, and down 72 cents for the week. USDA’s National Pork Carcass Cutout Value was up by $2.29 to $94.37 as the rib primals recovered. Ribs were shown $11.42 higher to $177.26. USDA reported the week’s pork output at 545.8 million lbs. That was up 15m from last week, and was 1.7% above the same week last year. Hog slaughter was 2.53m head for the week, also up 2.7% and 2.4% respectively. The YTD totals were shown at 6.556 billion lbs and 30.287m head, compared to 6.524b lbs and 30.04m head last year.
Apr 24 Hogs closed at $84.800, up $0.225,
May 24 Hogs closed at $91.800, up $1.400
Apr 24 Pork Cutout closed at $93.950, up $1.525,
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