So far for the last trade day of the week, lean hog prices are 32 to 77 cents weaker in April and May but up by as much as 70 cents in the deferreds. The National Average Base Hog price for Friday morning was $3.70 weaker to $96.53. CME’s 4/4 Lean Hog Index was $101.66, down by another 75 cents.
USDA’s April WASDE data showed a net 240m lb decrease to 2022 pork output, now figured at 27.075b lbs. That comes mainly via a 130m lb lighter Q3, though Q2 and Q4 were also trimmed from March’s report.
Pork cutout futures are UNCH to 97 cents in the red at midday. USDA’s National Pork Carcass Cutout Value was quoted as $3.53 stronger to $106.64. Federally inspected hog slaughter was 1.887 million head through Thursday. That is down from 1.914m head last week.
Apr 22 Hogs are at $98.725, down $0.325,
May 22 Hogs are at $107.550, down $0.775
Apr 22 Pork Cutout is at $105.150, unch,,
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