Lean hog futures fell by 45 to 65 cents during the midday session. The USDA reported a Friday morning national base hog price of $79.19, up 18 cents from the previous day. The CME Lean Hog Index also slipped, dropping 27 cents to $82.20 by September 23.
The USDA’s Hogs and Pigs report indicated that total hog inventory as of September 1 fell 1.51% year‑over‑year to 74.302 million head. Market hogs decreased 1.55% to 68.427 million head, while breeding inventory dropped 1.03%. The June‑August pig crop was 1.53% lower at 34.5 million head, and farrowings during that period fell 2.66%, with expectations for September through November down 1.79%.
USDA’s pork carcass cutout value slipped 72 cents in the Friday morning report to $85.89, with the rib primal the sole component showing a price increase.
Federally inspected hog slaughter on Thursday was estimated at 489,000 head, resulting in a weekly total of 1.922 million head—5,000 head fewer than the previous week and 11,867 head less than the comparable week of the prior year.
October 26 hog prices were $78.575 per hundredweight, down $0.625.
December 26 hog prices stood at $68.875, a decline of $0.600.
February 27 hog prices were $70.400, down $0.450.
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.
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