Hogs Close with Triple Digit Gains

Front month lean hog futures ended the session $0.70 to $2.07 stronger. April was up the most, which reduced the spread to May to $4.62. Feb hogs are now a $9.05 discount to April. USDA’s National Average Afternoon Base hog price was $70.28 in the PM report after a $4.09 bump. The CME Lean Hog Index from 1/17 was $76.78 after another 88 cents stronger.

Pork cutout futures were $0.90 weaker in the Feb contract as the other nearbys added triple digits through the day. USDA’s National Pork Carcass Cutout Value moved $8.26 higher in the PM report ro $95.47. Hams were up a sharp $30.61, but the loin primal fell $17.12. USDA estimated FI hog slaughter for the week through Wednesday at 1.32m head. That is 14k head lighter than last week and compares to 1.419m head during the same week last year. 

Feb 22 Hogs  closed at $82.300, up $0.700,

Apr 22 Hogs  closed at $91.350, up $2.075

Feb 22 Pork Cutout  closed at $93.275, down $0.950,