On Monday, lean hog futures experienced gains, with front month contracts rising by 20 to 40 cents. The USDA reported a national base hog price of $105.67, a decrease of $1.99 from the previous day, while the CME Lean Hog Index fell by 48 cents to $107.84 as of August 21.
The USDA’s FOB plant pork cutout report showed an increase of $1.28, reaching $114.17 per cwt. Out of the primals, only the rib and belly prices declined, with the picnic rising by $7.36. Additionally, USDA estimated hog slaughter at 455,000 head for Monday, a decline of 26,000 from last week and down 20,636 from the same day last year.
