Lean hog futures are rallying on Wednesday, with contracts up $1.50 to $1.75 on the day. USDA’s national base hog price was not reported on Wednesday morning due to light volume. The CME Lean Hog Index was 15 cents higher on March 2 at $89.84.
USDA’s pork carcass cutout value from the Wednesday AM report was steady at $99.13 per cwt. The rib and loin primals were the only reported lower. USDA estimated Tuesday’s federally inspected hog slaughter at 484,000 head, taking the total to 959,000 head for the week. That is 7,000 head above last week and 5,316 head below the same week last year.
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Apr 26 Hogs are at $97.050, up $1.300,
May 26 Hogs are at $101.600, up $1.675
Jun 26 Hogs are at $111.225, up $1.750,
