Lean Hogs Fade to Red for Close

After attempting a Turnaround Tuesday, front month lean hog futures ended the session with triple digit losses. December hogs have traded red for 8 consecutive sessions, dropping a net $9.90 per cwt. USDA’s National Average Base hog price for Tuesday afternoon was $84.07 which was 41 cents weaker. The CME Lean Hog Index was another $0.33 weaker on 9/10 to $97.40.       

Pork cutout futures were mixed with a 7 cent gain for October but losses of as much as $1.47 in the other front months. USDA’s National Pork Carcass Cutout Afternoon Value was $105.20 after a $4.08 bump. Butts were the only lower primal, while hams led the increase with a $9.03 bump. The Fresh Bacon Index from CME was another $14.47 cwt. weaker to $209.76. FI hog slaughter for Tuesday was estimated at 481k head. That sets the week’s running total at 952,000 head, or 18,000 head below last year’s pace.

Oct 21 Hogs  closed at $80.375, down $0.400,

Feb 22 Hogs  closed at $75.750, down $1.000

Oct 21 Pork Cutout  closed at $97.000, up $0.075,