Lean Hogs Mixed after Labor Day

Lean hog futures trading out of the Labor Day weekend has the board mixed. Futures are 5 to 70 cents stronger through the April contract with the deferred months in the red. The USDA National Average Base Hog price was delayed due to packer submission errors, the Friday PM report was $97.68. The 9/1 CME Lean Hog Index was $104.74 after another $1.52 drop. 

Pork cutout futures are also mixed on thin OI and volumes.  USDA’s National Pork Carcass Cutout value for Tuesday afternoon was $3.78 stronger to $106.03. USDA estimated FI hog slaughter at 2.350m head for the week through Saturday. That was 55k head below last week and 35k head lighter than the same week last year. YTD slaughter is estimated at 83.016m head, a 3.4% decline from last year’s pace. 

Oct22 Hogs  are at $90.750, up $0.725,

Dec 22 Hogs  are at $83.250, up $0.550

Dec 22 Pork Cutout  is at $93.075, down $0.100,