Lean hogs are posting a midday rally, with contracts up $1.30 to $2.02. USDA’s National Average Base Hog negotiated price was down $1.80 in the Friday morning report at $88.69. The CME Lean Hog Index was another dime higher at $91.46 on April 17. 

China’s ministry of ag reported the country’s sow herd at 39.92 million head on March 31, a drop of 7.3% from last year. The overall hog herd inventory was 408.5 million head, down 5.2% from last year.

USDA’s National Pork Carcass Cutout Value was another $1.06 in the Friday AM report, at $101.02. The rib primal was the only reported lower, with the belly leading the charge higher, up $2.23. USDA estimated Thursday’s federally inspected hog slaughter at 486,000 head, bringing the weekly total to 1.94 million head. That is 28,000 head above last week and a 35,849 head increase from the same week last year. 

May 24 Hogs  are at $96.100, up $1.375,

Jun 24 Hogs  are at $104.450, up $1.750

Jul 24 Hogs  is at $106.075, up $1.725,