Front month lean hog futures re up 0.3% to 2.2% so far through midday, led by the nearby summer months. June is up $2.57 to over $121. CME’s Lean Hog Index for April 14 was $99.98, up by 39 cents. The National Average Base Hog price for Monday morning was $94.05.
Pork cutout futures are mixed on low OI, with deferred contracts up as much as $2.25 to May’s UNCH midday quote. USDA’s National Pork Carcass Cutout Value was $116.26, up by $6.05 on Monday morning. Bellies were up by $17.63 to over $200 cwt. in the AM report. USDA estimated FI hog slaughter for the week through Saturday at 2.347m head. That was more than 100k head below the same week last year on just 8k from Saturday. YTD hog slaughter trailed last year’s pace by 6.1% through 4/16.
May 22 Hogs are at $115.200, up $2.450,
Jun 22 Hogs are at $121.200, up $2.725
May 22 Pork Cutout is at $119.470, UNCH,
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