Lean hogs were in freefall mode on Tuesday, with contracts down 95 cents to $2.35. USDA’s National Average Base Hog negotiated price was reported at $88.78 on Tuesday afternoon, down 57 cents from the day prior. The CME Lean Hog Index was up 24 cents on May 31 at $91.73.
USDA’s National Pork Carcass Cutout Value was down 67 cents with the Tuesday afternoon report at $100.76. All pork primals except the butt and belly were reported higher, with the latter down $10.31. USDA estimated federally inspected hog slaughter at 481,000 head on Tuesday, with the WTD total at 964,000 head. That is 29,862 head above the same week last year.
Jun 24 Hogs closed at $92.700, down $0.950,
Jul 24 Hogs closed at $93.925, down $2.350
Aug 24 Hogs closed at $93.550, down $2.075,
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