Lean hog futures declined on Tuesday, with contracts falling 15 cents to $1. The USDA reported a negotiated hog price of $109.24, an increase of $3.12 from the previous day. The CME Lean Hog Index rose by 89 cents on June 13, reaching $103.70.
The USDA’s FOB plant pork cutout value increased by 41 cents to $119.89. Federally inspected hog slaughter was estimated at 480,000 head on Tuesday, bringing the weekly total to 958,000 head, which is 2,000 fewer than last week but 15,649 more than the same week last year.
For futures, July 25 Hogs closed at $111.650, down $0.150; August 25 Hogs at $111.800, down $0.875; and October 25 Hogs at $95.175, down $1.000.
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