Lean hog futures declined on Wednesday, with contracts dropping between $1.37 and $2.57. Open interest fell by 1,898 contracts, primarily affecting the nearby August contracts. The USDA reported a national base hog price of $101.79, an increase of 79 cents from the prior day, while the CME Lean Hog Index rose by 12 cents to $98.35 as of July 24.
The USDA’s pork carcass cutout value decreased by $2.13 to $101.78, with all primals reported lower. Federally inspected hog slaughter for Wednesday was estimated at 471,000 head, bringing the weekly total to 1.353 million—a decline of 27,000 head compared to the previous week and 26,885 head below the same period last year.
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