Triple Digit Giveback from Hog Market

Lean hog futures closed the Tuesday session with a $3.30 drop in the December contracts and losses of at least $1.65 for the other front months. For the December contract that was the lowest price seen since November of 2021. Nearby lean hog prices are weaker by as much as $1.97 through midday. The National Average Base Hog price from Tuesday afternoon was $10.17 higher at $92.77. The CME Lean Hog Index for 9/30 was another 58 cents lower to $94.33.   

Pork cutout futures closed down by $0.82 to $2.27 in the front months. December pork cutout was the weakest. The USDA’s Pork Cutout Value was $1.64 weaker to $98.29. The USDA estimated FI hog slaughter as 487k head for Tuesday. That has the week to date hog slaughter total as 952k head, down from 967k head last week. 

Oct 22 Hogs  closed at $87.000, down $1.775,

Dec 22 Hogs  closed at $74.425, down $3.300

Oct 22 Pork Cutout  closed at $97.225, down $0.775,