Lean hog futures experienced declines on Monday, with losses ranging from $1.35 to $1.80. The USDA National Base Hog price increased slightly to $86.47, while the CME Lean Hog Index fell by 23 cents to $90.32 as of June 20. This drop indicates a lack of expected seasonal strength this spring.
The USDA reported a decline in the Pork Cutout Value, which fell by $1.90 to $97.13, although the picnic, ham, and belly cuts saw price increases. Last week’s federally inspected (FI) hog slaughter totaled 2.419 million head, reflecting an increase of 39,000 head from the previous week and 50,856 head more than a year ago.
Current hog futures are as follows: July 24 at $90.700 (down $1.350), August 24 at $87.525 (down $1.800), and October 24 at $74.700 (down $1.625).
