Lean Hogs

Lean hog futures ended Tuesday mixed, with the front contracts lower but summer futures in the plus column. Nearby February was down $1.05 but at $70.72 still maintained a $10 premium to the Index. The CME Lean Hog Index for 12/28 was up 14 cents at $61.72. The USDA pork carcass cutout value was down 11 cents in the PF report at $78.33. Pork bellies were up sharply $(4.92). The national base hog weighted average price was up 28 cents to $59.02. The IA/MN region was up 24 cents at a weighted $59.43. The USDA week to date FI hog slaughter was estimated at 460,000 million head. That is up 103,000 head from last week and 11,000 larger than the same week last year. Last week’s estimate was trimmed 5,000 head from the preliminary figure to put it at 2.102 million for the week.

Market Commentary provided by:

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