Front month lean hog futures looked to push the downside on Wednesday after starting the week lower. Feb futures rallied on Wednesday afternoon to close up by 57 cents for the day, after trading in a $1.78 range. The other front month futures were off their daily lows for the close, but still 15 to 42 cents in the red. The National Average Base Hog price dropped 29 cents on Wednesday afternoon to $46.26. The CME Lean Hog Index for 12/22 was $65.59, another 66 cents weaker.
The National Pork Carcass Cutout Value for Wednesday was 40 cents stronger at $82.52. CME’s Fresh Bacon Index for the week that ended 12/22 was $117.11, up by $2.81 from the week prior. The week’s federally inspected hog slaughter was 939k head through Wednesday. That compares to 983k during the same week last year.
Feb 24 Hogs closed at $69.875, up $0.575,
Apr 24 Hogs closed at $75.925, down $0.150
Feb 24 Pork Cutout closed at $81.725, up $0.000,
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