Lean hog futures saw a rally of 62 cents to $2.02 across the front months on Tuesday. USDA’s national base hog price was reported at $108.40 in the Tuesday PM report, up $2.73 from the day prior. The CME Lean Hog Index was down 54 cents on August 22 at $107.27.
USDA’s FOB plant pork cutout report from Tuesday afternoon was down $1.12 at $113.05 per cwt. The butt and rib primals were the only reported higher, with the picnic back down $10.34. USDA estimated hog slaughter for Tuesday at 480,000 head, taking the weekly total to 935,000 head. That was 23,000 head below last week and down 17,558 head from the same week last year.
