Lean hog futures ended the session with gains of as much as $3.25 nearby to a 17 cent loss by April ’23. The August to October spread widened to $16.97 by the bell, with August at a $25 premium to December. Dec hogs also extended their premium to Feb by $1 to $8.10. USDA’s National Average Afternoon Base Hog price for Wednesday was $3.28 higher to $123.74. The 7/4 CME Lean Hog Index was down another 22 cents to $110.58.
Pork cutout futures went home with $0.60 to $2.80 gains on the day. USDA’s National Pork Carcass Cutout Value dropped $2.98 in the PM report to $111.50 on weaker bellies. USDA estimates the week’s FI hog slaughter at 931k head through Wednesday. That’s down 3,000 head from the same week last year.
Jul 22 Hogs closed at $113.150, up $1.000,
Aug 22 Hogs closed at $109.200, up $3.250
Jul 22 Pork Cutout closed at $112.850, up $0.600,
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