Hogs are up 65 cents in the nearby February contract ahead of Wednesday’s expiration, with other contracts steady to 37 cents lower. USDA’s National Average Base Hog price was $2.85 higher on Tuesday morning to $68.06. The CME Lean Hog Index was 40 cents weaker on 2/9 to $73.60.
USDA’s National Pork Carcass Cutout Value was down $1.29 at $87.25. The hams, loin, and bellies primals were the driver in the AM report, with each down anywhere from $1.58 to $2.87. USDA reported FI hog slaughter at 491k head for Monday. That compared to 487k head last week, and is up 9.5k head vs the same week last year.
Feb 24 Hogs are at $74.225, up $0.650,
April 24 Hogs are at $81.125, unch,
Feb 24 Pork Cutout is at $85.800, up $1.100
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