On Tuesday, lean hog futures exhibited a mixed performance, with front months declining by 40 to 62 cents, while August futures increased by 55 cents. The USDA reported the national average base hog negotiated price at $98.84. The CME Lean Hog Index rose by $1.06 to $95.90 as of May 30.
The USDA’s Tuesday morning FOB plant pork cutout value decreased by 64 cents to $106.11, with only the rib primal reporting higher. Federally inspected hog slaughter was estimated at 482,000 head for the day, bringing the weekly total to 945,000 head, which is down 12,699 head compared to the same week last year.
