
Lean hog futures faded triple digits on Wednesday. For October that extended the week-to-date pullback to now $2.47, though October is still a $7.97 premium to Dec. The USDA National Average Afternoon Base Hog price was $98.15 after a 98 cent boost. 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.
Front month pork cutout futures also fell by triple digits on the day. USDA’s National Pork Carcass Cutout value for Wednesday afternoon was $100.35 after a $4.60 drop. Bellies and Picnics were down the sharpest. USDA estimates the WTD FI hog slaughter at 1.477m head through Wednesday. That is up by 12k head from the week prior and is 49k head above the same week last year’s pace.
Oct 22 Hogs closed at $94.425, down $1.550,
Dec 22 Hogs closed at $86.450, down $1.725
Oct 22 Pork Cutout closed at $103.375, down $1.400,