Lean hog futures are in rally mode on Wednesday, with contracts up $3 to $3.25, as nearby May is down a nickel. USDA’s national base hog price was reported at $95.17 on Wednesday morning, up 24 cents from the day prior. The CME Lean Hog Index was back up 7 cents on May 11 at $90.48.
USDA’s pork carcass cutout value from the Wednesday AM report was back up $1.40 at $96.92 per cwt. The picnic primal was the only reported lower. USDA estimated federally inspected hog slaughter for Tuesday at 491,000 head, with the weekly total at 953,000 head. That is down 14,000 head from the previous week and 6,710 head above the same week last year.
May 26 Hogs are at $90.875, down $0.050,
Jun 26 Hogs are at $101.575, up $3.150
Jul 26 Hogs are at $106.125, up $3.175,
