Mixed Midday for Hog Market

Following the tight trade to start the week, Tuesday’s lean hog futures market is mostly higher on another firm day so far. Gains are limited to 35 cents, while October is down by 25. The USDA National Average Base Hog price was $89.9 on Tuesday morning, down by 79 cents. The CME Lean Hog Index for 9/16 was another 45 cents stronger at $98.42. 

Pork cutout futures are also mixed at midday. USDA’s National Pork Carcass Cutout value for Tuesday morning was $108.18, up by $1.79 on a $23.54 increase in bellies. The CME Fresh Bacon Index was $185.12 (+ $3.26) for the week of 9/16. USDA estimated the Monday FI hog slaughter at 484,000 head. That is up from 475k head last week and from 465k head during the same Monday last year.  

Oct 22 Hogs  are at $96.175, down $0.300,

Dec 22 Hogs  are at $88.400, up $0.250,

Oct 22 Pork Cutout  is at $104.875, down $0.475,