Hog Futures Close Firm but Higher

Nearby hog futures prices went home with 2 to 52 cent gains past the lead month October’s 50 cent loss. 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 $5.17 higher to $97.17. The CME Lean Hog Index for 9/16 was another 45 cents stronger at $98.42. 

Pork cutout futures were also mixed, closing mostly higher past the Oct contract. USDA’s National Pork Carcass Cutout value was 70 cents weaker on Tuesday afternoon to $105.18. USDA revised the Monday hog slaughter 6,000 lower, with a 485k head kill on Tuesday. That has the WTD slaughter at 963k head – still up 12,000 on the week and 35,000 head yr/yr.  

Oct 22 Hogs  are at $95.975, down $0.500,

Dec 22 Hogs  are at $88.175, up $0.025,

Oct 22 Pork Cutout  is at $104.775, down $0.575,