Lean hogs closed out the Monday session with contracts steady to 75 cents lower, as July rolled off the board. The USDA National Base Hog price was reported at $83.12 on Monday afternoon, up 8 cents from the day prior. The CME Lean Hog Index was $88.38 on July 11, back down 27 cents from the previous day.
China’s pork production during the second quarter was 13.98 MMT down 3% from the year prior. Total hog slaughter during the first half of the year were 363.95 million head, down 3.1% from in 2023.
USDA reported the Monday PM Pork Cutout Value 55 cents lower at $98.29. The ham and butt primals were the only reported lower. USDA estimated Monday’s FI hog slaughter at 478,000 head. That was 16,000 head above last Monday and 28,325 head larger than the same Monday last year.
Jul 24 Hogs closed at $88.650, down $0.050,
Aug 24 Hogs closed at $88.425, down $0.025
Oct 24 Hogs closed at $69.775, down $0.375,
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