Lean hog futures closed on Monday with front months declining by 5 to 67 cents, while deferreds increased by 7 to 42 cents. The USDA reported the national base hog price at $89.04, down 32 cents from the previous day. The CME Lean Hog Index decreased by a penny to $90.28.
The USDA’s pork carcass cutout value rose by 40 cents to $99.14 per cwt. The estimated federally inspected hog slaughter for Monday was 492,000 head, which is 125,000 head higher than the previous week and 7,334 head above the same week last year.
Key lean hog future prices include April 26 Hogs at $90.500 (down $0.225), May 26 Hogs at $94.850 (down $0.675), and June 26 Hogs at $103.125 (down $0.600).
