Lean hogs are trading 12 to 50 cents lower on Friday, with Thursday’s report having a slight bearish flavor. The national average base hog price was reported at $76.60 on Friday morning, down $1.16 from the previous day. The CME Lean Hog Index was $84.07 on September 25, up 2 cents from the day prior.
The quarterly Hogs & Pigs report showed all hog inventory on September 1 at 76.48 million head, up 0.46% from last year. Market hogs were up 0.69% to 70.437 million head, with breeding hogs down 2.18% at 6.044 million head. The June-August pig crop was down 0.75% from last year at 35.03 million head.
The monthly Cold Storage report from NASS showed August 31 pork stocks at 453.64 million lbs. That was a 13-year low for the months and slightly above the end of July.
USDA’s FOB plant pork cutout value up $1.19 in the Friday AM report at $95.83 per cwt. The rib and ham were the only primals reported lower, with the other 4 up by a range of $1.41 to $2.17. USDA estimated FI hog slaughter at 486,000 head for Thursday, taking the week to 1.938 million head. That is up 47,000 head from the previous week and 3,586 head above the same week last year.
Oct 24 Hogs are at $81.900, down $0.125,
Dec 24 Hogs are at $73.425, down $0.500
Feb 25 Hogs is at $77.525, down $0.300,
On the date of publication, Austin Schroeder 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. For more information please view the Barchart Disclosure Policy here.
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