Lean hog futures increased by 10 to 87 cents at Monday’s close. The USDA’s national base hog price reached a weighted average of $110.47, an increase of $4.92 from the previous report. Meanwhile, the CME Lean Hog Index rose by 30 cents to $107.93 as of July 17.
The USDA’s FOB plant pork cutout value rose by $1.73 to $119.52 per cwt, with notable increases in the rib ($1.67), ham ($4.31), and belly ($5.23). On Monday, the estimated hog slaughter stood at 458,000 head, 9,000 head lower than last week but 3,143 head higher than the same week last year.
