Lean hog futures ended Wednesday with losses ranging from 22 cents to $1.32 across the board. The USDA reported a national base hog price of $99.01, a decrease of 64 cents from the previous day. The CME Lean Hog Index fell by 51 cents to $97.17 as of August 3.
The USDA’s pork carcass cutout value rose by $1.22 to $101.05 in the afternoon report, although the picnic and rib primals were lower. On Wednesday, federally inspected hog slaughter was estimated at 484,000 head, bringing the weekly total to 1.38 million—27,000 head more than last week and 3,354 head above the same week last year.
For specific contract closures, Aug 26 Hogs closed at $96.600 (down $1.250), Oct 26 Hogs at $83.025 (down $1.325), and Dec 26 Hogs at $74.650 (down $1.125).
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