Lean hog futures are falling 77 cents to $1.80 across most contracts on Wednesday. USDA’s national base hog prices from the Wednesday AM report was at $104.72, down $1.38 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 morning was back down 71 cents at $111.97 per cwt. The loin and butt primals were the only reported higher. USDA estimated federally inspected hog slaughter on Tuesday at 489,000 head, taking the weekly total to 979,000. That was up 1,000 head from last week and 9,669 head above the same week last year.
Oct 25 Hogs are at $99.750, down $0.775,
Dec 25 Hogs are at $88.925, down $1.800
Feb 26 Hogs is at $90.475, down $1.450,
