On Tuesday, lean hog futures increased by 62 cents to $2.02 in the front months. The USDA reported a national base hog price of $108.40, up $2.73 from the previous day, while the CME Lean Hog Index decreased by 54 cents to $107.27 as of August 22.
The USDA’s FOB plant pork cutout report showed a decrease of $1.12 to $113.05 per cwt, with the picnic cut dropping significantly by $10.34. An estimated 480,000 hogs were slaughtered on Tuesday, bringing the weekly total to 935,000, which is 23,000 head fewer than last week and down 17,558 head compared to the same week last year.
