Lean Hogs

Lean hog futures posted gains of $1 to $1.675 in most contracts yesterday, although nearby Feb was down 10 cents ahead of Wednesday’s expiration. The CME Lean Hog Index on February 8 was $75.38, down 25 cents from the previous day. The USDA pork carcass cutout value was $2.27 higher at $76.71 in the Monday PM report. All cuts were reported higher, with the belly primal up $8.82. The national base hog weighted average price was down 60 cents at $68.88 Monday afternoon. The USDA estimated FI hog slaughter at 462,000 on Monday. That is up 1,000 head from the previous week and 21,000 head more than the same time last year.

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