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%.
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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,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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