On Wednesday, lean hog futures decreased by 22 to 55 cents. USDA’s national base hog price was not reported due to light trading volume, while the CME Lean Hog Index rose 10 cents to $91.86 as of March 16.
The USDA reported a pork carcass cutout value of $99.96 per cwt, up 7 cents, though prices for loin, picnic, and ham primals declined. The federally inspected hog slaughter on Tuesday was estimated at 496,000 head, bringing the weekly total to 889,000 head—91,000 head fewer than the previous week but 91,083 head higher than the same period last year.
April 26 hogs are trading at $93.500 (down $0.225), May 26 at $98.325 (down $0.300), and June 26 at $107.225 (down $0.550).
