Lean hog futures are showing losses of $1.925 to $2.45 in the nearby months on Friday. The CME Lean Hog Index for 3/22 was down 12 cents to $71.29. USDA’s average pork carcass value in the morning report was $79.06, up $1.57. Only the loin was slightly lower. National cash hog base prices were 56 cents lower with the weighted average at $64.47. WTD estimated FI slaughter for hogs was 1,767,000 head on Thursday, 8,000 more than last week and 92,000 head above the same week in 2016. The highest pork producing company in Mexico is planning to double their number of sows over the next four year, according to a Reuters report. After they are done expanding, their pork production will be around 140,000 MT per year.
Apr 17 Hogs are at $67.425, down $1.925,
May 17 Hogs are at $71.500, down $2.450
Jun 17 Hogs are at $75.175, down $2.425