**Lean hog futures saw significant gains on Tuesday**, with increases ranging from 65 cents to $1.80. Open interest revealed net new buying, with an increase of 2,508 contracts. The USDA did not report the national base hog price due to packer submission issues, while the CME Lean Hog Index decreased by 27 cents to $91.03 as of May 1.
In March, pork exports reached 678.14 million lbs, marking the third largest on record and an 18.1% increase from February. The USDA reported a Tuesday PM pork carcass cutout value of $95.97 per cwt, down $1.39; only the rib primal showed an increase. The estimated federally inspected hog slaughter for Tuesday was 488,000 head, bringing the weekly total to 967,000, which is a rise of 5,000 head from the previous week and 4,175 head more than the same week last year.
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