Lean hog futures experienced losses on Tuesday, closing down by 12 to 42 cents. The USDA reported a national base hog price of $112.41, an increase of $4.16. The CME Lean Hog Index was recorded at $110.02, a decrease of 23 cents as of August 8.
The USDA’s FOB plant pork cutout price fell $4.39 to $114.70 per cwt. While the rib cut increased, other categories saw declines, particularly the picnic, which was down $7.83. In slaughter numbers, USDA estimated 480,000 hogs were processed on Tuesday, bringing the weekly total to 962,000, which is 55,000 more than the previous week but 6,183 fewer than the same week last year.
