Lean hog futures are rallying back on Tuesday, with contracts up90 cent sto $1.75 at midday. USDA’s national base hog price was not reported on Tuesday morning. The CME Lean Hog Index was 13 cents higher on Feb 13 at $87.06.
CFTC data as of last Tuesday pegged managed money net long 133,281 contracts, a 4,424 contract increase in the week.
USDA’s pork carcass cutout value from the Tuesday AM report was $1.43 lower at $95.42 per cwt. The rib primal was the only reported higher. USDA estimated federally inspected hog slaughter for Monday at 461,000 head. That was 24,000 head below last week and 21,888 head shy of the same week last year.
Apr 26 Hogs are at $92.175, up $0.900,
May 26 Hogs are at $97.050, up $1.750
Jun 26 Hogs are at $105.850, up $1.300,
