Hogs closed near their lows for the day with prices 85 to 92 cents in the red. USDA withheld the National Average Base Hog price on Tuesday to protect confidentiality. The Monday afternoon quote had fallen 48 cents to $62.01. The CME Lean Hog Index for 2/2 was cited at $73.56, up by another 44 cents.
USDA’s National Pork Carcass Cutout Value was $1.37 lower for the PM update on Tuesday, listed at $86.23. Federally inspected hog slaughter was estimated at 492k head on Tuesday, for a weekly total of 979k head. That is down from 982k head last week but well above the 953k head during the same week last year.
Feb 24 Hogs closed at $73.475, down $0.925,
Apr 24 Hogs closed at $81.250, down $0.950
Feb 24 Pork Cutout closed at $84.650, down $1.500,
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