Lean hog futures posted 22 to 65 cent gains on Tuesday. Preliminary open interest was down 6,556 contracts on Tuesday, mainly in April. USDA’s national base hog price was reported at $92.18 on Tuesday afternoon, up $1.45 from the day prior. The CME Lean Hog Index was another 16 cents higher on March 13 at $91.76.
USDA’s pork carcass cutout value from the Tuesday PM report was down 55 cents at $99.89 per cwt. The loin, butt, and belly primals were reported lower. USDA estimated the Tuesday federally inspected hog slaughter at 496,000 head, with the weekly total at 889,000 head. That is 91,000 head below last week and 91,083 head above the same week last year.
On the date of publication,
Austin Schroeder
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