Cute pink pig looking in pasture
Hogs sold off hard on Tuesday, and the momentum has carried over to day. February is down another 95 cents. Nearby December has to converge with the CME Index, and is up 12 cents. The 12/03 CME Lean Hog Index was $82.94, up by 15 cents. The National Average Base Hog price was 43 cents higher on Tuesday to $82.12.Â
Pork cutout futures ground lower this morning, with December off $.47. USDA’s National Pork Carcass Cutout value for this morning was $4.48 lower at $85.34, erasing yesterday’s gain. USDA estimated Tuesday’s FI hog slaughter at 491k head. That set the week’s pace at 974k head after Monday was revised lower. Last week was running at 980k head and the same week last year had 926k head harvested through Tuesday.Â
| Dec 22 Hogs | are at $82.500, up $0.225, |
| Feb 23 Hogs | are at $86.450, down $0.475 |
| Dec 22 Pork Cutout | is at $88.725, down $0.475, |
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