Piglets napping
Lean hog futures are trading through Wednesday’s midday with gains of $0.82 to $1.52 so far. USDA’s National Average Base hog price for the AM update was 48 cents higher to $64.75. The CME Lean Hog Index from 1/7 was 97 cents higher at $74.70.
Pork cutout futures are also in the black for midday with gains of $0.45 to $2 so far. USDA’s National Pork Carcass Cutout Value was $5.40 higher in the AM update to $87.02. USDA’s estimate for Tuesday’s FI hog slaughter is 458k head. The week’s running total is 906k after a revised lower total for Monday. The same week last year’s pace was 998,0000 head through Tuesday.
Feb 22 Hogs are at $79.125, up $1.275,
Apr 22 Hogs are at $85.275, up $1.075
Feb 22 Pork Cutout is at $91.075, up $1.050,
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