Lean hog futures are trading 30 cents to $1 higher at Wednesday’s midday. USDA’s national base hog price was reported at $111.81 on Wednesday morning. The CME Lean Hog Index was down $1.00 at $107.33 on July 7.
USDA’s Wednesday AM FOB plant pork cutout value was back up $1.38 at $113.39. The belly led the way higher, up $7.20, with the loin, butt, and rib reported lower. Tuesday’s estimated hog slaughter was 480,000 head by the USDA, with the week to date total at 958,000. That was up 17,000 head from last week and 17,394 head larger than last year.
