Lean hog futures declined by 10 to 35 cents at midday, with the USDA reporting a national base hog price of $83.89 on February 24, down 49 cents from the previous day. The CME Lean Hog Index increased by 50 cents to $85.72.
USDA’s pork carcass cutout value rose by $2.67 to $96.10 per cwt, with notable increases in belly prices, which were up $11.22. The estimated federally inspected hog slaughter for February 23 stood at 495,000 head, bringing the weekly total to 1.877 million head, down 9,000 head from the previous week and 56,348 head year-over-year.
Current futures prices include February 26 Hogs at $87.375, April 26 Hogs at $95.100, and May 26 Hogs at $99.200.
