Lean hog futures increased on Wednesday, with contracts rising between 22 to 50 cents. The USDA reported a national base hog price of $90.39, up 75 cents from the previous day. Meanwhile, the CME Lean Hog Index decreased by 28 cents to $90.58 as of August 31.
USDA’s pork carcass cutout value dropped by $1.79 to $96.11, with only the loin and picnic cuts showing price increases. The estimated federally inspected hog slaughter for Tuesday was 476,000 head, with a total of 940,000 head for the week, exceeding the previous week’s count by 1,000 head.
Notable futures prices include October 26 Hogs closing at $83.875 (up $0.225), December 26 Hogs at $74.300 (up $0.300), and February 27 Hogs at $76.700 (up $0.425).
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