On Tuesday, lean hog futures rose by 40 to 50 cents for most front months, while August hogs decreased by five cents. The USDA reported a national base hog price increase of $8.76, reaching $114.30. The CME Lean Hog Index also rose by 11 cents to $110.41 as of July 28.
As of Wednesday morning, USDA’s FOB plant pork cutout value increased by 6 cents to $115.91 per cwt, despite lower values reported for the loin, butt, and ham primals. Estimated hog slaughter for Tuesday was 460,000 head, with a week-to-date total of 902,000 head, which is down 21,000 head from last week and 46,256 head from the same week last year.
As for upcoming future contracts, August 25 Hogs are priced at $107.200 (down $0.050), Oct 25 Hogs at $89.225 (up $0.500), and Dec 25 Hogs at $81.225 (up $0.425).
