Lean hogs felt weakness across most contracts on Tuesday, with losses of 5 to 45 cents. The USDA National Base Hog price was reported at $84.68 in the Tuesday afternoon report, a $61 cent increase from the day prior. The CME Lean Hog Index was $92.29 on July 26, up 44 cents from the previous day.
USDA’s FOB plant pork cutout value was down $1.18 in the Tuesday PM average carcass quote, at $105.60 per cwt. The rib was the only primal reported higher. USDA estimated the Tuesday FI hog slaughter at 481,000 head, taking the WTD total to 954,000 head after Monday’s revision. That is up 20,000 head from last week but 1,562 head below the same Monday a year ago.
Aug 24 Hogs closed at $91.200, down $0.250,
Oct 24 Hogs closed at $74.775, down $0.050
Dec 24 Hogs closed at $67.625, down $0.225,
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