Lean Hog futures settled Monday with most contracts 20 to 50 cents higher, with June down 20 cents. The Chinese hog herd was down 18.8% yr/yr at the end of March according to the country’s ag ministry. In addition, their sow herd is down 21% in the same time period. The CME Lean Hog Index was down 2 cents from the previous day @ $79.34 on April 11. The USDA pork carcass cutout value was $1.33 higher at $87.04 per cwt in the afternoon report. The loin and picnic primals were reported lower, with the volatile belly up $7.39. The national base hog carcass value was up 13 cents in the PM report, at an average weighted price of $76.38. Estimated FI hog slaughter was 436,000 head for Monday, down 39,000 from the previous week and 25,000 below last year.
May 19 Hogs closed at $90.075, up $0.475,
Jun 19 Hogs closed at $98.300, down $0.200
Jul 19 Hogs closed at $101.550, up $0.200
--provided by Brugler Marketing & Management