Lean hog bulls turned on the jets late in the session, as most contracts posted 17 to 95 cent gains on the day. The National Average Base Hog price for Wednesday morning was $111.69 up $0.31 from the day prior. CME’s Lean Hog Index for 5/16 was 17 cents lower to $99.90.
Pork cutout futures was up $1.27. USDA’s National Pork Carcass Cutout Value was up $1.50 in the afternoon update to $103.61. The belly was the only primal reported lower. FI hog slaughter for Wednesday was estimated as 479,000 head, bringing the WTD total to 1.426 million head. That is up 9,000 head wk/wk and 8,000 head above the same week last year.
Jun 22 Hogs closed at $106.100, up $0.950,
Jul 22 Hogs closed at $108.525, up $0.775
Jun 22 Pork Cutout closed at $112.350, up $1.275,
