Lean hog futures experienced gains of 32 to 62 cents on Tuesday. The USDA reported a national base hog price of $99.65, an increase of 20 cents from the previous day. The CME Lean Hog Index, however, saw a decline of 55 cents, settling at $97.68 as of July 31.
June pork exports totaled 540.19 million lbs, representing a 3.2% decrease from last year and down 10.3% from May. The USDA reported a pork carcass cutout value of $99.83, down $1.08, with all primals recorded lower. Additionally, USDA’s estimated federally inspected hog slaughter for Tuesday was 483,000 head, bringing the weekly total to 901,000—29,000 head higher than the prior week but 7,649 head lower than the same week last year.
As for futures, August 26 Hogs closed at $97.850 (up $0.325), October 26 Hogs at $84.350 (up $0.675), and December 26 Hogs at $75.775 (up $0.425).
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