In weighted average negotiated prices for barrows and gilts, USDA reported;
- National carcass base was up 18 cents to $48.20/cwt.
- National live was 45 cents lower to $38.24
- Iowa-Minnesota carcass base was 32 cents higher to $48.25
USDA reported carcass cutout values this afternoon was $1.34 lower to $63.88/cwt.
April hogs were lower on supply concerns. “April is attempting to absorb part of the rally off of Monday's lows with the market also absorbing hefty short-term supply,” the Hightower Report said. “June is trading moderately higher and pushed up to a 14-session high as traders see better export activity ahead.”
Hogs were unable to break through resistance levels. “April hogs have traded within yesterday's range so far and have tested but unable to break through the 10-day moving average resistance level,” Stewart-Peterson said. “June hogs tested their 200-day moving average resistance level but have been unable to break through.”