A triple digit push left the front month hog futures 0.3% to 1.8% higher, though Feb closed up by just 57 cents for the day. April futures have settled higher on 5 of the last six trading days and are nearing the September 20 high at $86.05. Tuesday’s PM National Average Base Hog price was $59.40 with no comparison to Monday given confidentiality rules. The 1/26 CME Lean Hog Index was up another 70 cents to $70.60.
USDA’s National Pork Carcass Cutout Value was 52 cents weaker on Tuesday afternoon at $88.55. Bellies were the weak link, down by $9.35. The federally inspected hog slaughter was shown at 492k head for Tuesday, which put the week to date total at 982k head. That remains 20k head ahead of last week and 24k head more than the same week last year.
Feb 24 Hogs closed at $75.850, up $0.575,
Apr 24 Hogs closed at $84.900, up $1.475
Feb 24 Pork Cutout closed at $88.750, up $1.325,
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