Lean hog futures experienced declines of 75 cents to $1.80 for most contracts on Tuesday, with May futures showing a slight increase of five cents. As of Tuesday afternoon, the USDA reported a national base hog price of $95.19. The CME Lean Hog Index fell by 38 cents to $90.41 on May 8.
USDA’s pork carcass cutout value decreased by $1.46, now at $95.52 per hundredweight, with only the butt and rib primals reporting increases. The estimated federally inspected hog slaughter for Tuesday was 491,000 head, bringing the weekly total to 953,000 head—14,000 head lower than the previous week but 6,710 head higher than the same period last year.
Notable futures prices on Tuesday were: May 26 Hogs at $90.925 (up $0.050), June 26 Hogs at $98.425 (down $1.800), and July 26 Hogs at $102.950 (down $1.700).
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