Hogs fell by $1.65 to $2.65 across the front month futures on Tuesday to start the new year in a hole. That left the Feb contract with a 3.9% loss for the day. USDA’s National Average Base Hog price for Tuesday morning was withheld to protect confidentiality; on Friday the quote was $43.57. The CME Lean Hog Index for 12/27 was $65.57, down by 14 cents.
The National Pork Carcass Cutout Value for Tuesday was 34 cents stronger to $85.10. FI slaughter was 492k head for Tuesday, and none for the 1st. The week’s total was up from 451k last week and below the 508k head during the same week last year.
Feb 24 Hogs closed at $65.325, down $2.650,
Apr 24 Hogs closed at $72.500, down $2.350
Feb 24 Pork Cutout closed at $79.825, down $1.900,
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