Lean hog futures are trading 15 to 40 cents in the red so far, but are off their lows for midday after gapping lower to start the day. USDA’s National Average Base Hog price for Wednesday morning was $2.14 stronger to $45.74. The CME Lean Hog Index was $65.74 on 1/5, down by 11 cents.
Pork exports during November totaled 607.5 million lbs, a 3-year high for the month. That was up 5.2% from a year ago and 6.2% vs. October.
USDA’s morning National Pork Carcass Cutout Value was $88.38 on Wednesday, up by $3.85. USDA reported Tuesday’s FI hog slaughter at 395k head for a weekly total of 863k head. That compares to 952k head during the same week last year.
Feb 24 Hogs closed at $71.625, down $0.250,
Apr 24 Hogs closed at $78.275, down $0.225
Feb 24 Pork Cutout closed at $85.500, down $0.250,
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