Hog Futures Rise on Strong USDA Data, Feb Contracts Lead Gains

Lean hog futures advanced 45 cents on Wednesday as USDA reported a sharp rise in national base hog prices to $85.13, up $4.94 from the previous day. The CME Lean Hog Index climbed 27 cents to $82.03 for January 19 contracts. Pork carcass cutout values rose 51 cents to $93.98 per cwt. USDA estimated federally inspected hog slaughter at 495,000 head on Wednesday, bringing the weekly total to 1.404 million head, 77,000 below last week but 64,132 above the same period last year. February 26 hogs closed at $87.850, April 26 at $95.600, and May 26 at $99.275, all showing gains.