Lean hog futures closed the Thursday session with nearby contracts up 30 to 67 cent and back months own a dime to 67 cents. USDA’s national base hog prices from the Thursday PM report was down 17 cents from the day prior at $104.50. The CME Lean Hog Index was back up a dime on September 23 at $105.00.
NASS released their quarterly Hogs & Pigs report this afternoon, 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.
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USDA reported 29,402 MT of pork sold in the week ending on 9/18, a 4-week high. The largest buy was Mexico at 10,000 MT, with South Korea in for 4,900 MT and Japan buying 3,800 MT. Shipments of pork were tallied at 29,297 MT, back down from last week. Mexico w the top destination for 13,100 MT, with 3,600 MT headed to Japan and 2,800 MT to China.
USDA’s FOB plant pork cutout report from Thursday afternoon was back down 64 cents at $110.99 per cwt. The ham and belly primals were the only 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 closed at $100.100, up $0.675,
Dec 25 Hogs closed at $88.625, up $0.500
Feb 26 Hogs closed at $89.925, up $0.300,
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