Lean hog futures are down 45 cents to $1.37 at midday. USDA’s national base hog price from Thursday morning was not reported due to light volume, with the 5-day rolling average at $97.84. 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 and picnic were the only primals reported higher, with the belly leading the charge lower, down $7.28. USDA estimated federally inspected hog slaughter at 489,000 head for Wednesday, taking the week’s total to 1.46 million head. That is 11,000 head above last week and 17,545 head larger than the same week last year.
Oct 25 Hogs are at $97.175, down $0.450,
Dec 25 Hogs are at $84.725, down $1.375
Feb 26 Hogs is at $86.900, down $1.225,
