Lean hog futures recorded losses between $1.07 and $1.45 on Wednesday, with the USDA reporting a national base hog price of $98.91, down 52 cents from the previous day. The CME Lean Hog Index fell 51 cents to $97.17 as of August 3.
The USDA’s pork carcass cutout value increased by $2.40 to $102.23, with most primal cuts experiencing gains except for picnic and rib primals. Estimated hog slaughter for Tuesday reached 483,000 head, bringing the weekly total to 901,000, which is 29,000 head higher than the previous week but 7,649 head lower than the same week last year.
As for futures, August 26 hogs were at $96.775 (down $1.075), October 26 hogs at $82.950 (down $1.400), and December 26 hogs at $74.350 (down $1.425).
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