Lean hog futures weakened 35 cents in the Feb contract, but gained 15 to 50 cents in the spring delivery months. April hogs are now a $7.35 premium to Feb, while June is a $13.62 premium to April. USDA’s National Average Afternoon Base Hog price $48.04 for Thursday, up by 97 cents. The CME Lean Hog Index for 1/16 was $67.34, up by another 49 cents.
USDA’s National Pork Carcass Cutout Value was 77 cents stronger at $88.73. USDA’s FI hog slaughter for the week through Thursday was figures as 1.81m head compared to 1.83m head during the same week last year.
Feb 24 Hogs closed at $71.100, down $0.350,
Apr 24 Hogs closed at $78.450, up $0.475
Feb 24 Pork Cutout closed at $85.675, up $0.300,
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