Front month lean hog futures are trading 10 to 80 cents in the black through midday. The National Average Base Hog price was $3.74 stronger on Tuesday to $87.88. The 10/7 CME Lean Hog Index was $92.98 after a 33 cent boost. Â
Pork production estimates from the USDA WASDE report had Q3 up by 15 raising the ’22 total to 27.148b lbs. In 2023, Q1 was 20m lbs lower and Q2 was down by 40m lbs. On net the 2023 total was 175m lbs lighter to 27.345b lbs of pork. The balance sheet then lowered imports as well and cut projected exports by 105m lbs to 6.389 billion. Domestic use was figured 25m lbs lighter raising stocks by 125 million.Â
Pork cutout futures went home UNCH to 25 cents lower on Tuesday. The Pork Cutout Value from USDA was $103.15 in the Tuesday report, up by $1.76. The USDA estimated federally inspected hog slaughter at 977k head for the week through Tuesday. That is 25,000 head more than last week’s pace and is 21,000 head above the same week last year.Â
Oct 22 Hogs  are at $93.050, up $0.025,
Dec 22 Hogs  are at $80.225, up $0.700
Oct 22 Pork Cutout  is at $102.425, up $0.175,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.
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