After a weak start to the week, hog futures are firming back up by 20 to 55 cents through Wednesday. 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.
December pork exports came in at 643.8 million lbs via converted Census data. That was the second largest Dec on record after 2019. Dec pork shipments were also up 6% for the month and were the most for any month going back to May ’21.
USDA’s National Pork Carcass Cutout Value dropped by $2.67 to $83.56 for Wednesday morning. Bellies were $13.23 weaker to $118.28. 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 are at $73.650, up $0.175,
April 24 Hogs are at $81.700, up $0.450
Feb 24 Pork Cutout is at $84.750, up $0.100,
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