Lean hog futures closed the midweek session with losses of $0.85 to $1.82. May hogs were 47 cents weaker on the day, but OI is 2,983 contracts compared to +100k for June. USDA’s National Average Afternoon Base Hog price was $0.80 higher to $106.88. ECB prices were reported at $105.98, while the WCB hogs were $109.42. The CME Lean Hog Index was another 66 cents higher to $104.42 for 4/19.

Pork cutout futures ended the session down by triple digits at midday with losses of $1.05 to $1.50. USDA’s National Pork Carcass Cutout Value was $1.39 weaker in the PM report to $113.64. USDA estimates federally inspected hog slaughter for the week through Wednesday at 1.455m head. That is up 3,000 head wk/wk, but not comparable to last year.  

May 21 Hogs  closed at $107.600, down $0.475,

Jul 21 Hogs  closed at $103.000, down $1.250

May 21 Pork Cutout  closed at $113.450, down $1.150,