February hogs closed 7 lower on the session Friday and down 27 points for the week as a setback in cattle and talk that pork cut-out were sluggish last week were thought to have pressured the market. Some traders feel that the market may be pricing in relatively large short-term supplies but the outlook into mid-February still looks to be positive for prices. Many traders said that terminal locations were steady to $0.50 higher on Friday but that packers were trying to get hogs ahead of a snowstorm for the Midwest. However, those packers may have had enough hogs to meet their needs and warmer weather on Sunday was expected to clear roads. The monthly cold storage report released after the close on Friday showed total pork in cold storage at 481.67 million pounds, which was down 3% from last month and up 1% from last year. The CME Lean Hog Index as of January 18th came in at 84.96, up 19 cents from the previous session and up from 84.16 the week before. This leaves April hogs at a premium of just 210 points, which is considered much smaller than normal levels. The estimated hog slaughter came in at 416,000 head Friday and 157,000 head for Saturday. This brought the total for last week to 2.221 million head, up from 2.212 million head the previous week and up from 2.168 million head a year ago. Pork cutout values released after the close Friday came in at $85.64, up 87 cents from Thursday and up from $83.85 the previous week. This is the highest pork trade since December 29th.