Lean hog futures posted losses of $1.07 to $1.45 on Wednesday. The USDA’s national base hog price fell 52 cents to $98.91, while the CME Lean Hog Index dropped 51 cents to $97.17 as of August 3. The pork carcass cutout value rebounded $2.40 to $102.23 in the morning report, with only picnic and rib primals declining. Federally inspected hog slaughter reached 483,000 head on Tuesday, bringing the weekly total to 901,000 head, which is 29,000 above the prior week but 7,649 below the same week last year.
Lean hog futures fell over a dollar, with cash prices and index declining, indicating bearish supply/demand dynamics.
