Nearby hog futures are trading with futures $0.77 to $1.65 in the red. USDA’s National Average Base Hog price for Tuesday morning was $45.65 in the AM report. The CME Lean Hog Index was 31 cents higher on 1/10 to $66.77.
Pork cutout futures were 62 cents weaker on Friday, but still $2.95 higher for the week. USDA’s National Pork Carcass Cutout Value was 17 cents weaker on Tuesday afternoon to $86.89. USDA reported the week’s pork production at 493m lbs from 2.279m head harvested. That compares to 512m lbs last week and 587.7m lbs during the same week last year on 3.9% and 15.2% lighter slaughter respectively.
Feb 24 Hogs closed at $70.275, down $1.625,
Apr 24 Hogs closed at $77.125, down $1.500
Feb 24 Pork Cutout closed at $85.250, down $0.600,
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