Hogs Firmed Higher on Monday

Lean hog futures ended the Monday session $0.37 to $1.50 higher, except for nearby October. Last week, October hogs were down by a net 3.67% and December by a net 7.9%. The National Average Base Hog price from Monday afternoon was $2.48 lower at $82.60. The CME Lean Hog Index for 9/29 was another 23 cents lower to $94.91.   

Pork cutout futures closed Monday with $0.37 to $1.15 gains past the 30 cent drop in the October contract. USDA’s National Pork Carcass Cutout value was $2.34 higher on 10/3 to $99.93. The bellies bounced by $14.62 to $126.63 in the PM update. The 9/30 Fresh Bacon Index from CME was $163.67 after a $17.17 drop. The USDA estimated FI hog slaughter as 472k head for Monday. That is down from 484k head las week but 13,000 head more than the same week last year. 

Oct 22 Hogs  closed at $88.775, down $0.450,

Dec 22 Hogs  closed at $77.725, up $1.500

Oct 22 Pork Cutout  closed at $98.000, down $0.300,