On Tuesday, lean hog futures showed steady movement, with front month contracts fluctuating within a range of 50 cents lower. The USDA reported a national base hog price of $106.35, down $2.42, while the CME Lean Hog Index decreased by 23 cents to $110.02 as of August 8.
The USDA’s Tuesday morning FOB plant pork cutout report indicated a decline of $2.91 to $116.18 per cwt, with the belly cut notably down by $8.05. USDA estimated the hog slaughter at 482,000 head for Monday, which is 57,000 head higher than the previous week, but 2,430 head lower compared to the same week last year.
