Delivery month Intra market spreading continues for lean hogs through midday, as the complex is mixed again. The spring futures are firm to 60 cents higher at midday, while the summer and fall months are down 27 to 60 cents. USDA’s National Average Base Hog price was down by 22 cents on Wednesday morning, at $103 flat. The CME Lean Hog Index was up another 52 cents to $101.89 on 4/9.
Pork cutout futures are mixed but mostly higher, within 57 cents of UNCH. USDA’s National Pork Carcass Cutout Value was reported at $113.25, up by 76 cents. Most of the primal cuts were lower, but offset by a $12.67 increase to ham value. USDA estimated the federally inspected hog slaughter for Tuesday at 476,000 head, leaving the week’s total at 964,000 head.
Apr 21 Hogs are at $103.450, up $0.050,
Jun 21 Hogs are at $106.100, down $0.075
Apr 21 Pork Cutout is at $111.900, down $0.125,
