On Wednesday, lean hogs decreased by $1 to $1.65 across most front months. The USDA National Base Hog price was not reported in the morning print, with a 5-day rolling average at $81.43. The CME Lean Hog Index was $93.33 on August 5, reflecting a decline of 26 cents from the previous day.
USDA reported the FOB plant pork cutout value experienced a modest increase of 33 cents, now at $102.64 per cwt, driven primarily by gains in the butt, ham, and belly. Estimated hog slaughter on Tuesday was 482,000 head, bringing the weekly total to 893,000, down by 61,000 head from last week but up by 1,931 head compared to the same week last year.
Current prices for August 24 hogs stand at $90.600 (unchanged), October 24 hogs at $75.200 (down $1.200), and December 24 hogs at $67.800 (down $1.150).
