Hog shorts are leaning into the decline through Tuesday with another 85c to $1 losses in the front months. Futures were down $1.05 to $1.62 on Monday. USDA withheld the National Average Base Hog price this morning to protect confidentiality. The Monday afternoon quote fell 48 cents to $62.01. The CME Lean Hog Index was $1.22 stronger to $73.12 for 2/1.
USDA’s National Pork Carcass Cutout Value weakened another 96 cents in the AM updated to $86.64. USDA reported FI hog slaughter was 490k head for Monday. That compared to 492k head last week and was up from 478k head during the same week last year.
Feb 24 Hogs are at $73.300, down $1.100,
April 24 Hogs are at $81.125, down $1.075
Feb 24 Pork Cutout is at $84.650, down $1.500,
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