Front month hog prices are trading with midday gains of 52 to 82 cents, following the triple digit gain to start the week. USDA’s National Average Base Hog price was $81.02 with no comparison to yesterday. The CME Lean Hog Index was $83.59 on 3/21, a nickel higher.
NASS reported February pork stocks were 456.5 million lbs. That compared to 463.3 million in Jan and was the tightest February stockpile since 1997. The Cold Storage report put belly stocks at 63.8 million lbs for Feb.
USDA’s National Pork Carcass Cutout Value was 22 cents weaker in the AM report to $95.52. USDA listed the Monday FI hog slaughter at 484k head. That compares to 481k head last week and 483.7k during the same week last year.
April 24 Hogs are at $86.150, up $1.000,
May 24 Hogs are at $92.625, up $0.700
April 24 Pork Cutout is at $93.950, up $1.525,
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