Lean hog futures fell by $1.22 to $1.77 at the close on Monday, with August futures rising 12 cents. The USDA reported a national base hog price of $100.69, up $1.32 from the previous day, while the CME Lean Hog Index increased by 43 cents to $97.91 as of July 23.
According to Cold Storage data released on Friday, pork stocks were at 458.22 million pounds as of June 30, marking a 9.44% increase from last year and a 0.7% rise from the end of May. USDA estimated the federally inspected hog slaughter for Monday at 442,000 head, 11,000 above last week but 1,427 below the same week last year.
The USDA’s pork carcass cutout value decreased by 18 cents to $104.45 on Monday afternoon, with lower values reported for ham and belly primals.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
