Lean hog futures exhibited mixed results on Wednesday, with prices fluctuating between an increase of 70 cents and a decrease of up to 75 cents. The USDA reported the national base hog price at $97.52, a slight rise of 4 cents from the previous day. The CME Lean Hog Index also climbed by 13 cents to $92.76 as of June 8.
The USDA’s pork carcass cutout value remained steady at $95.96 per cwt, with only the loin and belly categories experiencing price increases. On the same day, USDA estimated the federally inspected hog slaughter at 477,000 head, bringing the week’s total to 1.418 million head, which is a decrease of 18,000 head compared to last week and 18,405 head lower than the same week last year.
For futures, June 26 Hogs closed at $93.175, down $0.400, while July 26 Hogs and August 26 Hogs closed at $96.850 (up $0.700) and $95.425 (up $0.725), respectively.
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