Lean hog futures are trading with mixed action on Monday, as contracts are withing 40 cents of unch. USDA’s National Average Base Hog price dropped $4.09 on Monday morning to $83.03. The CME Lean Hog Index was another 43 cents higher at $86.31 on April 4.
USDA’s National Pork Carcass Cutout Value headed higher in the Monday AM print, with a $3.74 gain to $101.49. That would be the first time the cutout has been over the $100 level since September if the PM print holds. The belly was the leader up $17. The USDA reported last week’s pork output at 521.2 million lbs, or 0.7% over last week and 1.3% above the same week last year. FI hog slaughter for the week was listed at 2.3421 million head vs 2.404 last week and 2.37m head during the same week last year.
Apr 24 Hogs are at $89.725, up $0.400,
Jun 24 Hogs are at $107.675, down $0.225
Apr 24 Pork Cutout is at $99.950, up $2.150,
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