On Tuesday, lean hog futures experienced mixed results, with front months declining between 40 to 62 cents, while August futures gained 55 cents. The USDA reported the national average base hog negotiated price at $98.84, with the CME Lean Hog Index rising by $1.06 to $95.90 on May 30.
The USDA’s FOB plant pork cutout value was $106.11, down 64 cents, with only the rib primal showing a price increase. Federally inspected hog slaughter for Tuesday was estimated at 482,000 head, bringing the weekly total to 945,000 head, which is 12,699 head lower than the same week last year.
