A triple digit push has the midday hog market $0.87 to $2.32 higher in the front months, extending the rally for a 6th session. Tuesday’s AM National Average Base Hog price was $61 flat with no comparison to Monday given confidentiality rules. The CME Lean Hog Index for 1/25 was $69.90 up by 23 cents.
USDA’s National Pork Carcass Cutout Value was back up by 7 cents in the AM quote to $89.14. Bellies fell by $9.55. USDA reported the Monday hog slaughter at 490k head, up by 7k from last week and by 16k head from the same Monday last year.
Feb 24 Hogs are at $76.150, up $0.875,
April 24 Hogs are at $85.800, up $2.375
Feb 24 Pork Cutout is at $88.800, up $1.375,
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