Lean hog futures fell by $1.10 to $2.60 in the front months into the Wednesday close, with back months 7 to 92 cents lower. USDA’s national base hog prices from the Wednesday PM report was at $104.67, down $2.32 from the day prior. The CME Lean Hog Index was down another 8 cents on September 22 at $104.90.
NASS will release their quarterly Hogs & Pigs report on Thursday, with September 1 inventory seen up 0.3% from last year. Hogs kept for breeding are expected to be down 0.5%, with market hog inventory seen up 0.3%.
USDA’s FOB plant pork cutout report from Wednesday afternoon was back down $1.05 at $111.63 per cwt. The loin primal was the only reported higher. USDA estimated federally inspected hog slaughter on Wednesday at 489,000 head, taking the weekly total to 1.454 million head after a 10,000 head lower revision to Tuesday. That was down 10,000 head from last week and 67 head below the same week last year.
Oct 25 Hogs closed at $99.425, down $1.100,
Dec 25 Hogs closed at $88.125, down $2.600
Feb 26 Hogs closed at $89.625, down $2.300,
