Lean Hogs Fall Triple Digits

Lean hog futures started the new week with triple digit losses of at least $1.27. For April contracts the $2.65 drop added to the loss on Friday for a net $4.77 drop in two sessions. USDA’s National Average Afternoon Base hog price was $65.89 on Monday, down by $1.06. The Jan 6th Lean Hog Index from CME was 16 cents higher at $73.73.   

US Ag Secretary Tom Vilsack and USTR announced India will allow U.S. sourced pork for import. 

Pork cutout futures also fell triple digits, with prices down as much as $2.87 going home. USDA’s National Pork Carcass Cutout Value was 52 cents higher in the PM update at $86.42. USDA estimated the FI hog slaughter at 457,000 head for Monday. That is 1,000 lighter wk/wk but 41k head lighter than the same Monday last year.  

Feb 22 Hogs  closed at $78.375, down $1.275,

Apr 22 Hogs  closed at $84.700, down $2.650

Feb 22 Pork Cutout  closed at $90.500, down $1.500,