On Tuesday, lean hog futures experienced losses ranging from 25 cents to $1.12, with USDA reporting a national base hog price of $94.87, down a penny from the previous day. The CME Lean Hog Index showed a slight increase of 4 cents, reaching $90.50 on May 15.
The USDA’s pork carcass cutout value also declined, down $1.48 to $96.88 per cwt, driven by decreases in the loin, belly, and ham primals. Additionally, the estimated federally inspected hog slaughter was 485,000 head for Tuesday, bringing the week-to-date total to 939,000, which is down 9,000 head from last week and 25,538 head less than the same week last year.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
