Lean hog futures are trading with $1.50 to $2.75 gains across most contracts on Friday. USDA’s national base hog prices from the Friday morning report were up 18 cents from the day prior at $104.20. The CME Lean Hog Index was back up a 6 cents on September 24 at $105.06.
NASS released their quarterly Hogs & Pigs report on Thursday, with September 1 inventory down 1.35% from last year at 74.472 million head, well below estimates calling for a slight increase. Hogs kept for breeding saw a drop of 1.82% to 5.934 million head, below estimates, with the market hog inventory falling 1.31% vs. last year to 68.538 million head.
USDA’s FOB plant pork cutout report from Friday morning shot higher by $3.59 at $114.58 per cwt. All primals were reported higher. USDA estimated federally inspected hog slaughter on Thursday at 490,000 head, taking the weekly total to 1.939 million head. That was down 1,000 head from last week and 3,906 head above the same week last year.
Oct 25 Hogs are at $101.600, up $1.500,
Dec 25 Hogs are at $91.350, up $2.725
Feb 26 Hogs is at $92.575, up $2.650,
