Front month lean hog futures trading is back up after Tuesday’s turnaround. April is near $87.80 with a $2.45 gain, the other front months are $1.02 to $1.32 higher. The CME Lean Hog Index was $81.90 on the 26th, up $1.20. USDA’s National Average Base Hog price was $1 higher this morning to $79.42. The WCB base hog price was $82.25, well above their $78.69 5-day average. Prices were withheld for the ECB due to confidentiality.
Pork cutout futures are $1.07 to $1.70 higher, with June now above $100 cwt as well. USDA’s National Pork Carcass Cutout Value was quoted at $94.22 this morning, down 65 cents. Bellies were up $5.39 in the Am report, but didn’t offset drops in the other cuts. USDA estimates federally inspected hog slaughter at 497,000 head for Tuesday. WTD hog slaughter was 990,000 head. Last year’s slaughter was 988k head through Tuesday.
China’s Farm Ministry confirmed the ASF cases in a transport of piglets in Yunnan. The report did not specify further contamination, but identifying the outbreak is fueling industry concerns that the disease was never irradicated. September hog futures on the Dalian were back up to 28,097 yuan/MT (~ $1.97/lb).
--- provided by Brugler Marketing & Management
Pork Cutout Prices by Barchart