Lean hog futures declined by 45 to 90 cents on Wednesday, with the USDA reporting a national base hog price of $93.62, down 73 cents from the previous day. The CME Lean Hog Index increased slightly to $90.55.
USDA’s pork carcass cutout value fell by 70 cents to $96.18 per cwt, with only the ham primal showing an increase. The estimated federally inspected hog slaughter for Tuesday reached 485,000 head, bringing the week-to-date total to 939,000, which is down 9,000 from the previous Monday and 25,538 lower than the same week last year.
Key closing prices for June 26 hogs were $97.275 (down $0.650), July 26 at $101.700 (down $0.450), and August 26 at $101.225 (down $0.875).
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