The rally for lean hog futures is continuing through midday with prices up another $0.42 to $2.02 so far. Feb is still under the June LOC high of $90.52, but the other nearby contracts are setting new LOC highs. USDA’s National Average Morning Base hog price for Tuesday was 56 cents weaker at $61.25. The CME Lean Hog Index from 1/21 was $78.32, up by 81 cents.
Pork cutout futures are also trading with triple digit strength through midday. USDA’s National Pork Carcass Cutout Value for Tuesday morning was 12 cents weaker to $95.54. USDA estimated FI hog slaughter for Monday at 455,000 head. That compares to 395k last week and 489k during the same Monday last year.
Feb 22 Hogs are at $87.225, up $0.900,
Apr 22 Hogs are at $96.900, up $1.575
Feb 22 Pork Cutout is at $97.350, up $1.275,
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