Lean hog futures are trading with contracts down $1.60 to $1.70 at midday. USDA’s national base hog price was up 26 cents in the Wednesday morning report at $70.17. The CME Lean Hog Index was up 31 cents on December 15 at $83.30.
USDA’s pork carcass cutout value from the Tuesday AM report was 94 cents lower to $97.62 per cwt. The butt and picnic primals were the only reported lower. USDA estimated federally inspected hog slaughter for Tuesday at 494,000 head, with the weekly total at 973,000. That was 8,000 head below last week after a revision to Monday and 1,175 head shy of the same week last year.
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Feb 26 Hogs are at $83.100, down $1.675,
Apr 26 Hogs are at $88.100, down $1.600
May 26 Hogs is at $91.700, down $1.675,
