Lean hog futures are steady so far on Tuesday, with contracts up a tick to 50 cents lower in the front months. USDA’s national base hog price was reported at $106.35 on Tuesday morning, down $2.42. The CME Lean Hog Index was down 23 cents at $110.02 on August 8.
USDA’s FOB plant pork cutout report from Tuesday AM was back down $2.91 at $116.18 per cwt. The rib and butt were reported higher, with the rest seen lower, led by the belly, down $8.05. USDA estimated hog slaughter at 482,000 head for Monday. That was 57,000 head above last week but down 2,430 head from the same week last year.
