On Wednesday, August 10, lean hog futures experienced gains ranging from 22 to 95 cents, while the soon-to-expire August contract fell by 20 cents. The USDA reported the national base hog price at $95.81, reflecting a decrease of 51 cents from the previous day, and the CME Lean Hog Index was reported at $95.94, down 15 cents.
Additionally, the USDA’s pork carcass cutout value dropped by $1.33 to $100.15. Primals such as loin, butt, belly, and ham reported lower prices. A total of 484,000 hogs were federally inspected for slaughter on Tuesday, bringing the weekly total to 1.422 million, which is an increase of 42,000 from the previous week, yet down by 19,192 compared to the same week last year.
Key closing prices include: August 26 Hogs at $95.675 (down $0.200), October 26 Hogs at $83.550 (up $0.225), and December 26 Hogs at $74.700 (up $0.575).
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