Hogs Nearly Print New Lows for the Year

Lean hog futures sank further on Monday, dropping 3-4%. At the low that had December contracts just 35 cents from a limit drop. Dec hogs have fallen $9.67 from their high just last week, going to lows not seen since January 27th. The National Average Base Hog price from USDA was $91.88 on Monday afternoon on a $5.54 increase. The CME Lean Hog Index for 9/22 was $97.59 after a 42 cent drop.   

Pork cutout futures followed the hog market 3.5% lower on $3.12 losses. October’s cutout was the firmest on the day with a $1.97 drop. USDA’s National Pork Carcass Cutout value for Monday afternoon was 53 cents higher at $101.46. Monday’s FI hog slaughter was estimated as 484,000 head. That was up from 478k head last week and from 474k head during the same Monday last year. 

Oct 22 Hogs  closed at $90.375, down $2.250,

Dec 22 Hogs  closed at $79.400, down $3.400

Oct 22 Pork Cutout  closed at $99.775, down $1.975,