Fri 15 Feb 2013 15:13:14 CT
April hogs closed just 7 points lower on the session and up 72 from the early lows. The market traded moderately lower again early this morning and pushed down to the lowest level since June 29th. The market lost 187 points for the week. Pork values were slightly higher late yesterday but the sharp drop in hams and loins this week has traders nervous that the cash trend will be down again next week. Cash markets are steady to $1.50 lower in the Midwest this morning and this helped to pressure as well. Slaughter should be a bit lower on Monday when futures are closed. There are several snowstorms in the forecast over the next week and central Iowa could get up to 13 inches over the next week so weather might be a factor. The CME lean index was 88.26 from 88.96 the previous session. Slaughter came in a as expected at 408,000 head. This pushed slaughter for the week to 2.145 million head, up 6,000 from last week but down 6,000 from last year.
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