Lean hog futures saw mostly lower action on Tuesday, down $1.50 to $1.70. October futures expired on Tuesday, up a nickel. Preliminary open interest was down 3,091 contracts, showing continued long liquidation. USDA’s national base hog price from Tuesday afternoon was reported at $93.05, up 76 cents from the day prior. The CME Lean Hog Index was down another 86 cents on October 10 at $98.57.
USDA’s FOB plant report from Tuesday afternoon showed the pork cutout back up 17 cents at $103.76 per cwt. The loin, butt, and ham were the only primals reported lower. USDA estimated federally inspected hog slaughter for Tuesday at 491,000 head, taking the week to date total at 976,000 head. That is up 5,000 head from last week and 17,887 head above the same week last year.
Oct 25 Hogs are at $97.475, up $0.050,
Dec 25 Hogs are at $83.150, down $1.700
Feb 26 Hogs is at $85.450, down $1.525,
