Lean hog futures are trading at $1.05, with a slight decline noted today. The U.S. Department of Agriculture (USDA) reported the national base hog price at $96.96 on Tuesday morning, and the CME Lean Hog Index dropped by 21 cents to $96.09 on August 7.
In the USDA’s morning report, the pork carcass cutout value increased by 98 cents to $102.79, although belly and picnic primals were lower. The estimated federally inspected hog slaughter on Monday was 483,000 head, surpassing the previous Monday’s figures by 65,000 head and exceeding the same week last year by 1,363 head.
Furthermore, lean hog contracts for August 26 are at $95.675, down $0.025, while October 26 and December 26 hogs are listed at $83.050 and $74.075, down $0.625 and $1.050, respectively.
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