Lean hog futures are rising between $1.6 and $2.05 on Wednesday, with August contracts up 5 cents. The USDA’s national base hog price reached $100.70 in Wednesday’s morning report, a $3.83 increase from the previous day. The CME Lean Hog Index climbed 76 cents to $93.87 on July 13.
USDA’s pork carcass cutout value rose 27 cents to $101.48 in the morning update, driven by gains in rib, picnic, and belly primal cuts. Federally inspected hog slaughter for Tuesday totaled 483,000 head, with the weekly count at 926,000. This marks a decline of 16,000 head compared to the previous week and 4,401 head fewer than the same week in the prior year.
Price movements for key contracts include:
Jul 26 Hogs at $95.150, up $0.050
Aug 26 Hogs at $100.075, up $1.625
Oct 26 Hogs at $86.425, up $2.050
