Lean hog futures closed the Thursday session with contracts 50 to 75 cents higher and reaching new contract highs. USDA’s national base hog price was reported at $83.09 on Thursday afternoon, down $2.04 from the day prior. The CME Lean Hog Index was up another 37 cents on Jan 20 at $82.40.
USDA’s pork carcass cutout value from the Thursday PM report was 64 cents higher at $94.62 per cwt. The rib primal was the only reported lower. USDA estimated federally inspected hog slaughter for Thursday at 490,000 head, taking the weekly total to 1.886 million head after a revision 8,000 head lower to Wednesday. That is 87,000 head below last week but 82,281 head above the same week last year.
Feb 26 Hogs closed at $88.475, up $0.625,
Apr 26 Hogs closed at $96.350, up $0.750
May 26 Hogs closed at $99.775, up $0.500,
