Hog futures were off their highs at the close, but were up by triple digits on Wednesday and hit 3-wk highs earlier in the session. The front months settled Wednesday $1 to $1.42 in the black. USDA’s National Average Base Hog price was $86.04 on Wednesday, up by $1.33. The 4/1 CME Lean Hog Index was 14 cents higher at $84.92.
USDA’s National Pork Carcass Cutout Value was back $2.22 weaker on Wednesday afternoon to $94.91. USDA estimated FI hog slaughter for the week through Wednesday at 1.338m head. That compares to 1.457m head last week and 1.446m head during the same week last year.
Apr 24 Hogs closed at $87.975, up $1.425,
May 24 Hogs closed at $95.000, up $1.325
Apr 24 Pork Cutout closed at $97.800, up $0.825,
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