Lean hog futures experienced a decline of 35 to 57 cents in the front months on Wednesday, while other contracts saw an increase of 40 cents to $1.10. The USDA reported a national base hog price of $92.27, down 38 cents from the previous day. The CME Lean Hog Index rose by 14 cents to $90.51.
In the same report, the USDA noted that the pork carcass cutout value dropped 79 cents to $98.55 per cwt. The estimated federally inspected hog slaughter for Thursday is set at 495,000 head, bringing the week’s total to 1.476 million head—down 1,000 head from the previous week but up 166,867 head compared to the same week last year. May 26 Hogs closed at $95.050, down $0.350, while June and July contracts closed at $102.625 and $105.700, respectively.
