Lean hog futures rose by 82 cents to $3 on Wednesday, with the USDA reporting a national base hog price of $96.89. Additionally, the CME Lean Hog Index increased by 11 cents to $91.66 on July 2.
In the Wednesday morning report, USDA’s pork carcass cutout value grew by $1.07 to $98.98, although the loin and picnic cuts were reported low. USDA estimated a federally inspected hog slaughter of 479,000 head on Tuesday, bringing the total for the week to 942,000—24,000 head higher than the previous week and 3,884 head above the same week last year.
Key futures prices include July 26 Hogs at $94.275 (up $0.825), August 26 Hogs at $99.025 (up $2.100), and October 26 Hogs at $84.650 (up $3.000).
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