Midday hog quotes are down by 10 to 30 cents, but are near their highs after gapping lower to start the day. USDA’s National Average Base Hog price for increased 22 cents on Thursday afternoon to $45.49. The 1/9 CME Lean Hog Index firmed up by another 63 cents to $66.46.
USDA’s monthly pork production outlook raised the 2023 total by 60 million lbs to 27.302 billion. The outlook for 2024 was also raised by 240m to 27.970 billion.
USDA’s National Pork Carcass Cutout Value was $2.12 weaker on Thursday to $84.54. USDA reported the week’s FI hog slaughter at 1.809 million head for the week through Thursday. That compares to 1.925m head for the same week last year.
Feb 24 Hogs are at $72.425, down $0.175,
April 24 Hogs are at $78.625, down $0.425
Feb 24 Pork Cutout is at $86.475, up $0.975,
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