On Wednesday, lean hog futures closed lower across most months, with contracts ranging from 17 cents to $1 down. The USDA reported the national base hog price at $93.76, a decline of $1.11 from the previous day. The CME Lean Hog Index increased slightly by 5 cents, standing at $90.55 on May 18.
The USDA’s pork carcass cutout value dropped by $1.41 to $95.47 per cwt, with only the butt primal showing a price increase. Federally inspected hog slaughter for Wednesday totaled 482,000 head, bringing the week-to-date total to 1.421 million, which is down 8,000 head from the previous week and 24,713 head below the same week last year.
Specific futures closed as follows: June 26 at $97.275 (down $0.650), July 26 at $101.975 (down $0.175), and August 26 at $101.825 (down $0.275).
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