Lean hog futures are trading with losses of 75 cents to $1.12 at the close, with July 35 cents higher. Open interest suggested modest new selling interest, up 3,225 contracts. USDA’s national base hog price was reported at $93.86 on Monday afternoon, up 63 cents from the day prior. The CME Lean Hog Index was back up 48 cents on May 28 at $91.40.
USDA’s pork carcass cutout value from the Monday PM report was up 30 cents at $99.75 per cwt. The loin, butt, and rib primals were reported lower. USDA estimated federally inspected hog slaughter for Monday at 476,000 head. That is up 12,461 head from the same Monday last year.
