On Tuesday, lean hog futures experienced gains ranging from 22 to 65 cents. Open interest declined by 6,556 contracts, primarily in April. The USDA reported a national base hog price of $92.18, an increase of $1.45 from the previous day. The CME Lean Hog Index rose by 16 cents to $91.76 as of March 13.
The USDA’s pork carcass cutout value fell by 55 cents to $99.89 per cwt, with declines in the loin, butt, and belly primals. The estimated federally inspected hog slaughter for Tuesday was 496,000 head, contributing to a weekly total of 889,000 head—91,000 head lower than the previous week but 91,083 head higher than the same week last year.
April 26 Hogs closed at $93.725, up $0.225; May 26 Hogs at $98.625, up $0.300; and June 26 Hogs at $107.775, up $0.525.
