Pig with dirt on snout ear tagged
Lean hog prices bounced back on Wednesday, ending the session $2.52 to $3.20 higher. USDA quoted the National Average Base Hog price as $108.47, which was an $8.34 boost from the prior quote. CME’s Lean Hog Index was down by another 44 cents to $101.15.
Pork cutout futures also closed up by triple digits on a midweek bounce, ending the day $1.05 to $3.05 in the black. USDA’s National Pork Carcass Cutout Value for Wednesday was $103.83 after a $1.73 dip in the PM report. USDA estimated FI hog slaughter at 1.444m head for the week through Wednesday. That is up 2k head from last week’s pace.
May 22 Hogs closed at $102.600, up $2.825,
Jun 22 Hogs closed at $105.100, up $2.900
Jun 22 Pork Cutout closed at $112.050, up $3.050,
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