The majority of lean hog futures are recovering from Monday’s drops with 45 to $1.10 gains at midday. April contracts closed in the black on Monday, and are trading a dime weaker so far for Tuesday. USDA’s National Average Base Hog price was up another 39 cents this morning to $102.50. The CME Lean Hog Index was up another 43 cents to $101.94 on 4/8.
China’s Ministry of Agriculture and Rural Affairs confirmed another ASF outbreak in a report to the U.S. embassy. The outbreak occurred April 8 in Hunan province, in which 3 pigs in a group of 61 were found with ASF. All 3 of the infected succumbed to the disease and the other 58 were culled. Illegal live hog transportation was cited as the cause.
Pork cutout futures are mostly higher with gains of 52 to 75 cents, save for a nickel drop in April. USDA’s National Pork Carcass Cutout Value was up a sharp $5.36 in the AM report to $115.46. USDA estimated the federally inspected hog slaughter for Monday at 494,000 head.
Apr 21 Hogs are at $103.425, down $0.100,
Jun 21 Hogs are at $106.975, up $0.825
Apr 21 Pork Cutout is at $112.200, down $0.050,
