Lean Hog futures posted limit losses in most 2019 contracts, with nearby April down 7.5 cents ahead of Friday’s expiration. Preliminary open interest rose 998 contracts, confirming limited new selling interest. The CME Lean Hog Index was up another 15 cents from the previous day @ $78.68 on April 5. The USDA pork carcass cutout value was 18 cents lower at $83.11 per cwt in the afternoon report. The national base hog carcass value was up 12 cents in the afternoon report, at an average weighted price of $75.51. Estimated FI hog slaughter was 950,000 head through Tuesday, down 2,000 from the previous week but 48,000 above last year. USDA cut projected 2019 pork production by 105 million pounds to 27.325 billion, on reductions to all but the second quarter.
--provided by Brugler Marketing & Management