Lean hog futures saw declines on Wednesday, with contracts closing 5 cents to $1.15 lower. The USDA reported a national base hog price of $96.92, down 66 cents from the previous day. The CME Lean Hog Index also fell by 17 cents to $91.24 as of June 29.
In contrast, the USDA reported an increase in pork carcass cutout value, rising 22 cents to $95.71, primarily due to higher prices for loin, rib, and belly cuts. USDA estimates indicated a federally inspected hog slaughter of 474,000 head on Wednesday, bringing the week-to-date total to 1.392 million, which is 16,000 head below last week and 18,964 head lower than the same week last year.
Key closing prices for hog futures include July 26 at $93.350 (down $0.975), August 26 at $97.050 (down $1.150), and October 26 at $81.500 (down $0.500).
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