Lean hog futures began the new month with wide ranges. The board ultimately closed mid range on 2 to 25 cent losses while October was the outlier, ending 42 cents higher. The USDA National Average Base Hog price was $5.06 weaker to below $100 at $99.75 Thursday afternoon. The 8/30 CME Lean Hog Index was $107.62 after a $1.74 drop.
Pork cutout futures went home on Thursday with 15 to 25 cent losses past the October 72 cent gain. USDA’s National Pork Carcass Cutout value was $1.33 lower in the PM report to $101.86. Bellies were quoted at $145.66 in the PM update. USDA estimated the week’s FI hog slaughter at 1.915m head for the week through Thursday. That compares to 1.914m head last week and 1.898m head during the same week last year.
Oct 22 Hogs closed at $91.950, up $0.425,
Dec 22 Hogs closed at $83.775, down $0.100
Oct 22 Pork Cutout closed at $102.400, up $0.725,
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