Lean hog futures are rallying on Wednesday, with contracts up $1.15 to $1.35 at midday. USDA’s national base hog price was not reported on Wednesday morning due to light volume. The CME Lean Hog Index was down a dime on Jan 12 at $80.50.
USDA’s pork carcass cutout value from the Wednesday morning report was 12 cents lower at $91.68 per cwt. The picnic and ham primals were the only reported higher. USDA estimated federally inspected hog slaughter for Tuesday at 474,000 head, with the weekly tally at 991,000. That is 2,000 head shy of last week but 62,597 head above the same week last year.
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Feb 26 Hogs are at $85.800, up $1.175,
Apr 26 Hogs are at $92.600, up $1.350
May 26 Hogs are at $96.700, up $1.275,
