Lean hogs were off their highs by the Tuesday close, ending the day 7 to 40 cents weaker in the spring contracts but 7 to 22 cents stronger in the summer months. April hogs were 80 cents off their high for the close. USDA’s National Average Afternoon Base Hog price increased by $4.55 to $84.71 on Tuesday. The CME Lean Hog Index was 18 cents stronger on 3/29 to $84.78.
USDA’s National Pork Carcass Cutout Value firmed up another 52 cents to $97.13 on Tuesday. USDA estimated FI hog slaughter at 489k head for Tuesday, for a weekly total of 847,000 head. That compares to 967k head last week and to 970k head during the same week last year.
April 24 Hogs are at $86.550, down $0.400,
May 24 Hogs are at $93.675, down $0.075
Jun 24 Hogs are at $103.725, up $0.225,
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