Lean hog futures are trading down by 62 cents to $1.50 as of midday Wednesday. The national average base hog negotiated price is reported at $88.40, an increase of $1.83 from the previous day. The CME Lean Hog Index is at $84.06, a decline of 30 cents from the day prior.
On Wednesday, the USDA reported a FOB plant pork cutout value of $89.53 per cwt, down 8 cents, with only the belly primal exhibiting an increase of $5.99. The estimated hog slaughter was 487,000 head on Tuesday, bringing the weekly total to 976,000 head, a decrease of 2,000 head from last week but an increase of 2,706 head from the same week last year. Current futures prices include December 24 Hogs at $82.625, February 25 Hogs at $86.350, and April 25 Hogs at $90.925.
