Lean hog futures were in rally mode on Wednesday, with contracts up $1 to $1.45 at the close. USDA’s national base hog price was reported at $80.29 on Wednesday afternoon, up $10.29 from the day prior. The CME Lean Hog Index was down a dime on Jan 12 at $80.50.
USDA’s pork carcass cutout value from the Wednesday afternoon report was 51 cents lower at $91.29 per cwt. The picnic and ham primals were the only reported higher. USDA estimated federally inspected hog slaughter for Wednesday at 495,000 head, with the weekly tally at 1.481 million. That is now even with last week and 38,698 head above the same week last year.
Feb 26 Hogs closed at $85.700, up $1.075,
Apr 26 Hogs closed at $92.700, up $1.450
May 26 Hogs closed at $96.575, up $1.150,
