Lean hogs are down another $1.12 to $2.45 at midday. USDA’s National Average Base Hog negotiated price was not reported on Friday morning, with a 5 day rolling average at 90.45. The CME Lean Hog Index was back down 21 cents on April 24 at $91.43.  May futures still hold a near $4 premium to cash. 

USDA’s National Pork Carcass Cutout Value was higher in the Friday morning report, up $2.71 at $100.20. The ham primal was the only reported lower, with the belly leading the charge to the upside, $13.35 higher. USDA estimated Thursday’s federally inspected hog slaughter at 485,000 head, with the week to date total at 1.936 million head. That is down 4,000 head from last week but a 53,270 head increase from the same week last year. 

May 24 Hogs  are at $94.150, down $1.125,

Jun 24 Hogs  are at $102.675, down $2.325

Jul 24 Hogs  is at $105.925, down $1.875,