On Friday, lean hog futures increased by $1.20 to $1.525 across front months. The USDA reported a national base hog price decrease of $2.25 to $108.33. Meanwhile, the CME Lean Hog Index rose by $0.05 to $109.83 as of August 12.
In additional market activity, the USDA’s FOB plant pork cutout report showed an increase of $5.68, bringing the price to $120.86 per cwt, with all primals higher and the belly up by $14.87. Estimated hog slaughter for Thursday reached 473,000 head, totaling 1.913 million for the week, which is 84,000 head higher than last week but down 15,286 head compared to the same week last year.
