Lean hog futures dropped between $1.20 and $1.80 across most contracts on Wednesday, with the USDA’s national base hog price reported at $81.17, down $0.62 from the previous day. The CME Lean Hog Index also fell by 34 cents to $89.17 on November 10.
The USDA reported a $1.33 decrease in pork carcass cutout value to $96.05 per cwt. The estimated federally inspected hog slaughter for Tuesday was 460,000 head, bringing the weekly total to 954,000 head—27,000 more than last week and 11,025 above the same week last year.
