Just checking the lean hog futures this morning - prices are basically flat, hovering within 40 cents of where they opened. USDA had the national base hog price at $91.84 earlier this week, and the CME Lean Hog Index was sitting around $89.69. What caught my eye is the pork cutout value dropped 91 cents to $97.59 per cwt, with the ham and butt primals both taking hits. Looks like the ham and belly sections are under pressure right now. Slaughter numbers came in at 482,000 head on Monday - that's actually 5,000 more than the previous week, though still below year-ago levels by about 1,400 head. The futures market seems to be digesting all this without much conviction either way. Apr contracts closed up a dime at $95.675, but May and Jun are both slightly lower. Not seeing huge momentum in either direction on the pig side of things.