October Hogs Re-establish Premium

The lean hog futures complex traded mostly lower on Thursday with 37 to 92 cent losses. October was the standout contract and rallied $1.05 on the day. That left Oct at a $9.45 premium to Dec hogs. The USDA National Average Base Hog price was $2.91 weaker in the Thursday afternoon release at $94.98. The 9/6 CME Lean Hog Index was $101.48, down by $1.78.   

Pork cutout futures closed similarly with 12 to 47 cent losses past October’s $1.20 gain. USDA’s National Pork Carcass Cutout value for Thursday afternoon was $0.71 weaker to $102.44. Federally inspected hog slaughter was 10k head ahead of the same week last year with USDA estimating 1.446m head through Thursday.

Oct 22 Hogs  closed at $92.125, up $1.050,

Dec 22 Hogs  closed at $82.675, down $0.925

Oct 22 Pork Cutout  closed at $102.950, up $1.200,