Wednesday’s hog trade shows futures higher but by less than 50c at midday. The Feb contract has seen a $1.25 range so far through Wednesday. USDA’s National Average Base Hog price was up by $2.06 on Wednesday morning to $62.36. The 1/26 CME Lean Hog Index was up another 70 cents to $70.60.
USDA’s National Pork Carcass Cutout Value for Wednesday morning was 33 cents stronger at $88.88. 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 are at $76.450, up $0.600,
April 24 Hogs are at $85.150, up $0.250
Feb 24 Pork Cutout is at $88.150, down $0.600,
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