Lean Hogs Rallying Triple Digits

So far for Thursday, front month lean hog futures are $0.60 to $1.07 higher with triple digit gains for April through June contracts. USDA’s National Average Base hog price for Thursday morning was back down a sharp $8.93 to $61.14. USDA had the WCB base price at $65.26, though the ECB was withheld for confidentiality. The CME Lean Hog Index from 1/17 was $76.78 after another 88 cents stronger.

Pork cutout futures are also in the black for midday, with gains of 17 to 95 cents in the front months. USDA’s National Pork Carcass Cutout Value was down $3.04 in the AM update to $92.43. Butts and bellies were each more than $10 cwt. stronger, though ribs fell $12 and hams were $26.48 weaker. 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  are at $82.925, up $0.625,

Apr 22 Hogs  are at $92.400, up $1.050

Feb 22 Pork Cutout  is at $93.925, up $0.600,