Lean hog futures are showing mixed results as of midday, with prices ranging from 52 cents higher to 65 cents lower. The USDA reported a national base hog price of $96.84, down 11 cents from the previous day. The CME Lean Hog Index increased by 37 cents to $92.35 as of July 8.
In the Friday morning report, USDA’s pork carcass cutout value rose by $3.02 to $101.83, driven primarily by a $7.26 increase in belly prices. The USDA also estimated the federally inspected hog slaughter for Thursday at 480,000 head, bringing the weekly total to 1.894 million head, which is 53,000 head higher than last week and 18,965 head more than the same week last year.
Current futures prices are $94.825 for July 26 hogs (up $0.500), $98.675 for August 26 hogs (up $0.525), and $85.025 for October 26 hogs (down $0.625).
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