Front month lean hog futures continued their rally with another $0.62 to $2.22 gains for the front months. The summer contracts are all now above $100 and set new highs, while Feb is still under the June LOC high of $90.52. USDA’s National Average Base hog price was $6.44 stronger in the PM update at $72.13. The CME Lean Hog Index from 1/21 was $78.32, up by 81 cents.
Pork cutout futures closed with gains of as much as $2.50 in the front months. USDA’s National Pork Carcass Cutout Value for Tuesday was $92.46 after a $3.20 drop. The picnic cut was down the most with a $13.96 drop to 1-yr low $50.16. USDA estimated FI hog slaughter for Tuesday at 476,000 head. The week’s kill is 924k head, after a lighter Monday revision.
Feb 22 Hogs closed at $87.450, up $1.125,
Apr 22 Hogs closed at $97.250, up $1.925
Feb 22 Pork Cutout closed at $97.575, up $1.500,
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