Lean hog futures experienced mixed results on Thursday, July 14, 2023, with August contracts down $0.05 at $100.275, while other contracts, such as October and December, rose by $0.45 and $0.825 respectively. On Wednesday, futures increased by $1.05 to $2.35, with USDA’s national base hog price reported at $100.66, up $2.10 from the prior day. The CME Lean Hog Index was at $94.60, reflecting a gain of 73 cents.
In the week ending July 9, USDA reported 21,572 metric tons (MT) of pork sold for export, marking a rebound, although shipments remained low at 25,221 MT, the lowest for the calendar year. The USDA also estimated a federally inspected hog slaughter of 482,000 head on Wednesday, bringing the weekly total to 1.408 million, which is 6,000 head lower than the previous week but 13,037 higher than the same week last year.
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