Lean hog futures are trading 45 to 70 cents lower at midday. The USDA’s national base hog price from Thursday morning was reported at $86.35, down 68 cents from the previous day. Additionally, the CME Lean Hog Index declined by 80 cents on October 21, settling at $94.18.
The USDA’s pork carcass cutout value from Thursday morning’s report also fell, dropping 91 cents to $98.84 per cwt. However, the picnic, ham, and rib primals were reported higher, reverting from the movements seen on Wednesday.
USDA estimated federally inspected hog slaughter on Wednesday at 493,000 head, bringing the weekly total to 1.472 million head. This is an increase of 4,000 head from last week and 16,864 head above the same week last year.
**Lean Hog Futures Prices:**
– December 25 Hogs: $81.95, down $0.45
– February 26 Hogs: $84.55, down $0.675
– April 26 Hogs: $89.10, down $0.65
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*On the date of publication, Austin Schroeder did not hold positions (either directly or indirectly) in any of the securities mentioned in this article. All information and data presented are for informational purposes only.*
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https://www.nasdaq.com/articles/hogs-easing-lower-thursday