Hogs Put Up Triple Digit Gains to Reverse Tuesday Losses
Lean hog futures showed $1.20 to $1.95 gains yesterday to fade or totally erase Tuesday losses. Pork cutout futures ended the session $1.02 to $1.20 higher. The CME Lean Hog Index was back up by 36 cents on 1/18 to $65.92. USDA’s National Average Base Hog price was back up by $0.82 in the PM quote to $55.08. The National Pork Carcass Cutout value was $79.02 in the PM quote. The primals were mixed. USDA estimated FI hog slaughter at 1.423 million head through Wednesday. That was down 71,0000 head wk/wk, but up from 1.39m the same week last year.
--- provided by Brugler Marketing & Management
