Lean hog futures are experiencing midday gains of 15 to 82 cents across most contracts as of July 5, 2023. The USDA’s national base hog price rose by $2.81 to $112.09, while the CME Lean Hog Index decreased by 77 cents to $110.99 on June 30.
The USDA reported a FOB plant pork cutout value down 42 cents to $111.88. Key cuts like the butt decreased by $10.60 and the belly by 51 cents, though other primals reported increases. Federally inspected hog slaughter estimates for Tuesday totaled 478,000 head, bringing the week-to-date total to 947,000 head, which is up 11,000 head from last week but down by 977 from the same week last year.
