Lean hog futures were mostly 67 cents to $1.72 lower on Tuesday, with February held up 7 cents and a few deferred fall contracts 45 to 70 cents higher. The national average base hog negotiated price was reported at $77.75 on Tuesday afternoon, up 58 cents from the day prior. The CME Lean Hog Index was reported at $81.40 on January 17, up 12 cents from the previous day. 

On Monday, President Trump signaled a less aggressive approach to tariffs and has delayed implementation to review current trade agreements and policies with China, Canada, and Mexico. He did throw out a February 1 start date for potential 25% tariffs on Mexico and Canada. 

USDA’s FOB plant pork cutout value was $1.49 lower in the Tuesday PM report at $90.82 per cwt. The belly was the primals reported higher, with the rest reported lower. Federally inspected hog slaughter for Tuesday was at 489,000 head, with the week to date total at 963,000 head. That is 52,000 head below last week and down 60,746 head the same week last year. 

Feb 25 Hogs  closed at $81.200, up $0.075,

Apr 25 Hogs  closed at $86.700, down $1.625

May 25 Hogs  closed at $91.425, down $1.675,