Lean hog futures closed lower on Monday, with contracts down 55 to 70 cents. February contracts decreased by five cents, settling at $88.30. The USDA reported the national base hog price at $83.25, down 31 cents, while the CME Lean Hog Index increased by 55 cents to $83.62 as of January 22.
The USDA’s pork carcass cutout value rose by $1.51 to $97.26 per cwt. Notably, the estimated federally inspected hog slaughter for Monday was 426,000 head—5,000 higher than the previous week but 5,345 lower than the same week last year. Key futures closing prices include April at $96.725, up 55 cents, and May at $100.225, up 67.5 cents.
