Lean hog futures saw pressure on Thursday, with contracts down 60 cents to $1.75 at the close. Open interest dropped 3,670 contracts on Thursday, indicating some long liquidation. USDA’s national base hog price from Thursday afternoon was down $2.72 at $96.33. The CME Lean Hog Index was down another 72 cents on October 7 at $100.70.
USDA’s FOB plant report from Thursday morning showed the pork cutout down $1.71 at $102.11 per cwt. The loin, butt, and picnic were the only primals reported higher, with the belly leading the charge lower, down $6.36. USDA estimated federally inspected hog slaughter at 491,000 head for Thursday, taking the week’s total to 1.946 million head. That is 7,000 head above last week and 19,617 head larger than the same week last year.
Oct 25 Hogs closed at $97.000, down $0.625,
Dec 25 Hogs closed at $84.350, down $1.750
Feb 26 Hogs closed at $86.675, down $1.450,
