Lean hog futures are trading with contracts 45 to 70 cents lower at midday. USDA’s national base hog price from Thursday morning was reported at $86.35, down 68 cents from the day prior. The CME Lean Hog Index was down another 80 cents on October 21 at $94.18.
USDA’s pork carcass cutout value from the Thursday morning report was down 91 cents to $98.84 per cwt. The picnic, ham, and rib were the primals reported higher, reverting back from the Wednesday action. USDA estimated federally inspected hog slaughter on Wednesday at 493,000 head, with the weekly total at 1.472 million head. That is up 4,000 head from last week and 16,864 head above the same week last year.
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Dec 25 Hogs are at $81.950, down $0.450,
Feb 26 Hogs are at $84.550, down $0.675
Apr 26 Hogs is at $89.100, down $0.650,
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