On Tuesday, lean hog futures increased by 22 to 65 cents, with the USDA reporting a national base hog price of $92.18, up $1.45 from the previous day. The CME Lean Hog Index rose 16 cents to $91.76 as of March 13.
The USDA’s pork carcass cutout value was reported at $99.89 per cwt, down 55 cents, influenced by lower prices in loin, butt, and belly primals. The Tuesday federally inspected hog slaughter was estimated at 496,000 head, bringing the weekly total to 889,000 head—91,000 head below last week but 91,083 head above the same week last year.
Future contracts for April 26, May 26, and June 26 hogs closed at $93.725, $98.625, and $107.775, showing increases of $0.225, $0.300, and $0.525 respectively.
