**Lean Hog Market Update – July 26, 2023**
Lean hog futures declined by 30 cents, settling at $1.77 for nearby contracts, while some deferred contracts for December and beyond rose by 30 cents. The USDA reported a national base hog price of $97.57, reflecting a 32-cent increase from the previous day. Meanwhile, the CME Lean Hog Index fell by 66 cents, reaching $92.09.
On July 25, USDA’s pork carcass cutout value decreased by $1.55 to $95.57 per hundredweight, primarily due to declines in all primals, especially the butt and ham. An estimated 963,000 hogs were federally inspected on Tuesday, maintaining the week-to-date total at the same figure. This marks an increase of 22,000 head from last week and 9,326 head above the same week last year.
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