The front month hog futures market was 2 to 30 cents weaker yesterday, save for a 2 cent gain for May. The April contract is now a $6.90 premium to Feb, while April ’25 is a $9.30 premium for the April-April spread. USDA’s National Average Base Hog price was $44.88 on Wednesday, down by 25 cents. The CME Lean Hog Index for 12/29 was $65.05, a 30c decrease.
The pork cutout futures were 82c weaker across the front months. The National Pork Carcass Cutout Value was $82.78 after a $2.32 drop for Wednesday. FI hog slaughter for Wednesday was 483k head for a week’s running total of 975k head. That is 12k head behind the same week last year’s pace.
Feb 24 Hogs closed at $65.300, down $0.025,
Apr 24 Hogs closed at $72.200, down $0.300
Feb 24 Pork Cutout closed at $79.000, down $0.825,
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