Lean hog futures closed Tuesday with 12 to 42 cent losses. Preliminary open interest was up 932 contracts on Tuesday. USDA’s national base hog price was reported at $112.41 on Tuesday afternoon, up $4.16. The CME Lean Hog Index was down 23 cents at $110.02 on August 8.
USDA’s FOB plant pork cutout report from Tuesday afternoon was back down $4.39 at $114.70 per cwt. The rib was reported higher, with the rest seen lower, led by the picnic, down $7.83. USDA estimated hog slaughter at 480,000 head for Tuesday, taking the week to date total to 962,000. That was 55,000 head above last week but down 6,183 head from the same week last year.
