Lean hogs are sitting at their lows for the day with triple digit losses of as much as $4.75. The deferred contracts are also $1.10 to $1.92 weaker. USDA’s National Average Afternoon Base Hog price was $6.91 weaker on Friday at $99.13. CME’s Lean Hog Index for April 21 was 42 cents higher to $101.67.
Pork cutout futures are trading $1.92 to $4.02 in the red through midday. USDA’s National Pork Carcass Cutout Value was $2.32 weaker on Monday morning to $108.96. USDA’s estimate for last week’s federally inspected hog slaughter was 2.374m head through Saturday. That was 33k head above last week’s pace but was 97k head behind the same week last year.
May 22 Hogs are at $107.750, down $4.100,
Jun 22 Hogs are at $114.025, down $4.750
May 22 Pork Cutout is at $114.725, down $3.775,
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