Lean hogs ended the Monday session with contracts 7 to 87 cents higher by the close after showing early weakness. USDA’s National Average Base Hog price dropped 38 cents on Monday afternoon to $86.32. 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 PM print, with a $2.58 gain to $100.33. That is the first time the cutout has been over the $100 level since September. The belly was the leader up $11.40. USDA estimated Monday’s federally inspected hog slaughter at 472,000 head. That was a 114,000 head jump from last week and a 122,127 head increase from the same Monday last year.
Apr 24 Hogs closed at $89.750, up $0.425,
May 24 Hogs closed at $97.875, up $0.325
Apr 24 Pork Cutout closed at $99.950, up $0.000,
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