Lean Hogs

Lean hog futures settled the Monday session with gains of 20 cents to $1.225. The CME Lean Hog Index on March was $68.09, down 27 cents from the previous day. The USDA pork carcass cutout value was $1.51 higher at $79.62 in the Monday afternoon report. The loin was down 34 cents, with all other primal higher. The national base hog weighted average price was 27 cents higher at $62.34. The USDA estimated FI hog slaughter on Monday at 456,000 head. That is down 5,000 head from the previous week and 15,000 head more than the same time last year. With the new plants online and producers still expanding hog production, slaughter is now consistently above year ago on a weekly basis, and usually on a daily basis.

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