Hogs are trading off their daily lows after pushing the downside for Wednesday. Midday prints have the board 17 to 50 cents in the red so far. USDA’s National Average Base Hog price for Tuesday morning was $45.90 in the PM report. The CME Lean Hog Index increased 7 cents to $66.55 on 1/12.
China’s National Bureau of Statistics reported 200223 pork output at 57.94 MMT. That was up 4.6% form 2022 with a 3.8% increased slaughter.
USDA’s National Pork Carcass Cutout Value was $87.79 on 1/16, up by 73 cents. Tuesday’s FI hog slaughter was estimated at 464k head for Tuesday, setting the week’s total at 842k head vs 910.7k head during the same week last year.
Feb 24 Hogs are at $70.800, up $0.025,
April 24 Hogs are at $77.375, down $0.200
Feb 24 Pork Cutout is at $84.550, down $0.150,
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