Lean hog futures increased by 75 cents to $1.25 on Tuesday, with the USDA’s national base hog price at $92.77, rising 82 cents from the previous day. The CME Lean Hog Index also climbed 13 cents, reaching $90.87 on March 5.
In the latest USDA report, the pork carcass cutout value fell by $2.22 to $99.10 per cwt, with only the rib primal reporting an increase. Tuesday’s federally inspected hog slaughter was estimated at 495,000 head, bringing the weekly total to 980,000 head, which is 21,000 head above last week and 6,039 head higher than the same week last year.
On the futures market, April 26 hogs closed at $96.075, up $1.250; May 26 hogs closed at $101.350, gaining $0.975; and June 26 hogs closed at $110.650, up $0.750.
