Lean Hogs Futures Market News and Commentary
Lean hog futures closed the day with contracts up 37 cents to $1.47. The USDA’s National Average Base Hog price was $131.34 in the Wednesday afternoon report, up $2.15 from the previous day’s report. The August 15th CME Lean Hog Index was down 65 cents to $121.06.
Front month pork cutout futures were up $1.42. USDA’s National Pork Carcass Cutout value was down $2.68 to $118.47 in the Wednesday PM report. The belly was down $12.28, with the butt, rib and ham also lower. Federally inspected hog slaughter on Wednesday was estimated at 478,000, bringing the weekly total to 1.396 million head. That is 10,000 head below last week and 23,000 head fewer vs. the same week last year.
Oct 22 Hogs closed at $98.050, up $1.475,
Dec 22 Hogs closed at $88.425, up $0.725
Oct 22 Pork Cutout closed at $107.900, up $1.425,