Lean hog futures increased by 40 to 57 cents at midday. The USDA reported a national base hog price at $98.13 on Tuesday morning, with the CME Lean Hog Index rising 51 cents to $96.16 as of July 17. The USDA’s pork carcass cutout value also rose by $2 to $101.10, with increases noted in belly, rib, and ham cuts.
On the slaughter side, the USDA estimated Monday’s federally inspected hog slaughter at 440,000 head, which is 3,000 head below the previous week and 7,359 head lower than the same day last year. Futures for August 26 Hogs are at $101.675, October 26 Hogs at $88.300, and December 26 Hogs at $79.525, marking respective increases of $0.400, $0.575, and $0.450.
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