Front month lean hog futures are down 2 cents to $1, with October down the most. USDA’s National Average Base Hog price was withheld to protect confidentiality this morning, but was shown at $84.62 in the Tuesday PM report. CME’s Lean Hog Index was another $1.22 lower on 8/24 at $96.40.
Pork cutout futures also closed stronger on the first day out of the weekend $0.47 to $2 higher. USDA’s National Pork Carcass Cutout Value was down by $1.29 in the AM report to $94.76. USDA estimated Monday’s FI hog slaughter at 476k head, 5k more than last week but 6k head under the same week last year.
Oct 23 Hogs closed at $80.700, down $1.150,
Dec 23 Hogs closed at $72.825, down $0.600
Oct 23 Pork Cutout closed at $92.775, down $0.325,
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