Lean hogs rallied on Wednesday, with contracts 37 cents to $2.35 higher at the close. The USDA National Base Hog price was reported at $85.08 on Wednesday afternoon, a 3 cent increase from the day prior. The CME Lean Hog Index was $88.62 on July 15, up 20 cents from the previous day.
USDA reported the Wednesday PM Pork Cutout Value $1.55 lower at $99.32. The butt, rib, and ham primals were all sharply lower. USDA estimated Tuesday’s FI hog slaughter at 479,000 head, which takes this week’s total to 1.434 million head. That was 19,000 head above last week and 50,143 head larger than the same week last year.
Aug 24 Hogs closed at $91.650, up $0.375,
Oct 24 Hogs closed at $73.675, up $1.475
Dec 24 Hogs closed at $65.875, up $1.750,
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