Lean hog futures are down 92 cents to $1.57 at Wednesday’s midday. Open interest suggested net new buying, up 2,508 contracts. USDA’s national base hog price was reported at $94.79 on Wednesday morning, up 82 cents from the day prior. The CME Lean Hog Index was back up 7 cents on May 4 at $91.10.
USDA’s pork carcass cutout value from the Wednesday AM report was up 67 cents at $96.64 per cwt. The ham and belly primals were 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 are at $91.875, down $0.925,
Jun 26 Hogs are at $99.850, down $1.575
Jul 26 Hogs are at $102.375, down $1.150,
