June 6 | Lean hog futures settlement prices fell to end the day, with the most active contract down 2.9% to 98.7 cents per pound.
This marked the second straight day that live hog futures have declined, pushing them back below the $1-per-pound threshold. The move was driven by a drop in average pork carcass cutout prices: yesterday late in the session they fell 38 cents to $98.13 per hundredweight.
Meanwhile, live cattle futures closed almost unchanged at $2.41625 per pound. The market was shaken after the U.S. confirmed a New World screwworm case.
