On Wednesday, lean hog futures experienced significant gains, with contracts rising between $1.30 to $1.80. The CME Lean Hog Index recorded an increase of 15 cents, reaching $89.84 as of March 2. USDA did not report the national base hog price due to light trading volume.
In the USDA’s Wednesday PM report, the pork carcass cutout value rose by 12 cents to $98.62 per cwt. Notably, federal hog slaughter was estimated at 494,000 head on Tuesday, bringing the weekly total to 1.453 million head—5,000 head lower than the previous week and 122,514 head lower than the same week last year.
