Lean hogs experienced a decline on Monday, closing down 70 cents to $1. The USDA reported the National Average Base Hog negotiated price at $88.30, an increase of $2.45 from the previous day. The CME Lean Hog Index rose by 49 cents to $91.49 on May 30.
The USDA’s National Pork Carcass Cutout Value decreased by $1.82 to $101.43 in the Monday PM report, with all primals reported lower. Estimated federally inspected hog slaughter reached 483,000 head last week, surpassing the previous week, influenced by the holiday, and exceeding the same week last year by 18,294 head.
Contract prices for June, July, and August 2024 hags closed at $93.650, $96.275, and $95.625 respectively, with respective declines of $0.700, $0.850, and $0.875.
