**Lean Hog Futures Update**
On March 12, lean hog futures saw gains of up to 40 cents, with the USDA reporting a national base hog price of $86.04, a decrease of $6.05 from the previous day. The CME Lean Hog Index was reported at $91.60, an increase of 16 cents. Managed money increased its net long position in lean hog futures and options by 3,668 contracts to reach a total of 127,704 contracts.
In the USDA’s Monday AM report, pork carcass cutout value was listed at $102.11 per cwt, reflecting a rise of $1.92. Additionally, the federally inspected hog slaughter was estimated at 2.532 million head for the previous week, which is 44,000 head higher than the preceding week and 31,000 head more than the same week last year.
