Lean hog futures posted 65 cent to $1.80 gains on Tuesday. Open interest suggested net new buying, up 2,508 contracts. USDA’s national base hog price was not reported on Tuesday afternoon due to packer submission issues. The CME Lean Hog Index was back down 27 cents on May 1 at $91.03.
Monthly trade data from Census converted to a carcass basis showed pork exports at 678.14 million lbs. That was the 3rd largest on record for March and up 18.1% from February.
USDA’s pork carcass cutout value from the Tuesday PM report was down $1.39 at $95.97 per cwt. The rib primal was the only reported higher. USDA estimated federally inspected hog slaughter for Tuesday at 488,000 head, with the weekly total at 967,000. That is up 5,000 head from the previous week and 4,175 head above the same week last year.
May 26 Hogs closed at $92.800, up $1.175,
Jun 26 Hogs closed at $101.425, up $1.675
Jul 26 Hogs closed at $103.525, up $1.700,
