Hogs Red at Midday

Front month lean hog futures are trading with midday losses of 15 cents to $1.72 so far. The USDA National Average Base Hog price was $1.02 higher to $95.28. The CME Lean Hog Index for 9/16 was another 45 cents stronger at $98.42. 

China will release another 14,400 MT of frozen pork from state reserves on 9/23. 

Pork cutout futures red as well through midday with $0.70 to $1.75 losses. USDA’s National Pork Carcass Cutout value was $4.58 weaker in the AM report to $100.37 cwt. The loins and bellies were the weakest. 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 $94.850, down $1.125,

Dec 22 Hogs  are at $86.425, down $1.750

Dec 22 Pork Cutout  is at $96.775, down $1.750,