Lean hog futures closed higher on July 25, with July contracts up 47 cents for the week. The USDA’s national base hog price was $108.09, a 9-cent increase from the previous day. The CME Lean Hog Index rose to $111.89 on June 25, up 48 cents.
The quarterly Hogs & Pigs report revealed a 0.33% increase in hog inventory to 75.137 million head at the beginning of June, contrary to analysts’ expectations of a 0.4% decline. Market hogs were up 0.4%, while breeding hogs declined by 0.48%. The estimated federally inspected hog slaughter for the week is 2.408 million head, which is an increase of 51,000 from last week but 9,344 below last year’s figures.
