Lean hog futures were in rally mode on Wednesday, with contracts up $1.30 to $1.80 on the day. OI rose 504 contracts on Wednesday. USDA’s national base hog price was not reported on Wednesday afternoon 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 PM report was up 12 cents at $98.62 per cwt. The rib and loin primals were the only reported lower. USDA estimated Tuesday’s federally inspected hog slaughter at 494,000 head, taking the total to 1.453 million head for the week. That is 5,000 head below last week and 122,514 head below the same week last year.
Apr 26 Hogs closed at $97.075, up $1.325,
May 26 Hogs closed at $101.725, up $1.800
Jun 26 Hogs closed at $111.200, up $1.725,
