Lean hog futures experienced a decline on Tuesday, with losses ranging from 5 to 72 cents as traders prepared for the April expiration. The USDA reported a national base hog price of $90.77, an increase of $1.73 from the previous day. Additionally, the CME Lean Hog Index was down a penny at $90.27.
In the USDA’s Tuesday morning report, the pork carcass cutout value decreased by 54 cents to $98.60 per cwt, with notable declines in loin, butt, and belly cuts. The estimated federally inspected hog slaughter for Tuesday was 491,000 head, bringing the week-to-date total to 983,000 head—119,000 higher than the previous week and 12,299 more than the same week last year.
