Lean hog futures experienced a decline of 35 to 57 cents on front-month contracts as of Wednesday, with other contracts increasing by 40 cents to $1.10. The USDA reported a national base hog price of $92.27, down 38 cents from the previous day, while the CME Lean Hog Index rose by 14 cents to $90.51. In related data, the USDA’s pork carcass cutout value fell by 79 cents to $98.55 per cwt.
The USDA estimated Thursday’s federally inspected hog slaughter at 495,000 head, bringing the week’s total to 1.476 million, which is down 1,000 head from the previous week but up 166,867 head compared to the same week last year. Notably, May 26 Hogs closed at $95.050, while June 26 Hogs were at $102.625, down $0.575; July 26 Hogs rose by $0.475 to close at $105.700.
