As of Wednesday, July 7, lean hog futures are trading between 30 cents to $1 higher, with the USDA reporting a national base hog price of $111.81. The CME Lean Hog Index decreased by $1.00 to $107.33.
The USDA’s Wednesday AM FOB plant pork cutout value increased by $1.38 to $113.39, primarily driven by a $7.20 rise in the belly cut, although other cuts saw decreases. Additionally, Tuesday’s estimated hog slaughter reached 480,000 head, bringing the week-to-date total to 958,000, which is up 17,000 head from the previous week and 17,394 head larger than last year.
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