Through the Thursday midday, lean hog futures are off their highs and back in the red. Futures are giving back 32 to 40 cents in the front months. The USDA National Average Base Hog price was delayed due to packer submission errors this morning. On Wednesday afternoon, it was quoted $2.02 weaker at $104.81. The 8/30 CME Lean Hog Index was $107.62 after a $1.74 drop.
Pork cutout futures are also trading red at midday, down by 22 to 45 cents so far. USDA’s National Pork Carcass Cutout value was $1.05 stronger on Thursday morning to $104.24. USDA estimated the week’s FI hog slaughter at 1.435m head through Wednesday. That compares to 1.438m head last week and 1.422m head during the same week last year.
Oct 22 Hogs are at $91.250, down $0.275,
Dec 22 Hogs are at $83.475, down $0.400
Dec 22 Pork Cutout is at $94.025, down $0.450,
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