**Lean Hog Futures Update**
On July 26, lean hog futures closed at $94.800, down $1.775, with nearby contracts down 30 cents to $1.77. The USDA reported a national base hog price of $97.57, up 32 cents from the previous day. In contrast, the CME Lean Hog Index fell by 66 cents to $92.09.
USDA’s Tuesday PM report also noted a pork carcass cutout value of $95.57 per cwt, which is a decline of $1.55, largely driven by lower prices in the butt and ham categories. Estimated federally inspected hog slaughter reached 963,000 head on Tuesday, matching the week-to-date total, and marking an increase of 22,000 head from the previous week and 9,326 head from the same week last year.
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