Lean hog futures are trading with 57 to 85 cents lower at midday, with August holding higher, up a tick. USDA’s national base hog price had a weighted average of $109.26 in the Friday AM report, down $4.55 from the previous report. The CME Lean Hog Index was up 72 cents at $109.95 on July 23.
USDA’s Friday morning FOB plant pork cutout value was $2.97 higher at $120.51 per cwt. All primas except the ham were reported higher, led by a $15.43 gain in the rib. USDA estimated hog slaughter at 475,000 head for Thursday, with the weekly total estimated at 1.871 million head. That was 1,000 head above last week and down 23,317 head from the same week last year.
