Lean hog futures were down 55 cents to $1.10 on the Wednesday session. The national average base hog price was reported at 78.67 on Wednesday afternoon, down 23 cents from the day prior. The CME Lean Hog Index was $86.15 on August 30, down 32 cents from the day prior.
Pork exports per Census data showed 566.6 million lbs during July. That would be a record for the month and up 8.1% from last year.
USDA’s FOB plant pork cutout value was down $3.53 in the Wednesday PM report at $95.29 per cwt. The ribs were the only reported higher, with the belly down $10.05 to lead the way to the downside. USDA estimated the Wednesday FI hog slaughter at 485,000 head, with the week to date total at 971,000 head. That is well below the previous non-holiday week but 16,157 head larger than the same week last year.
Oct 24 Hogs closed at $81.575, down $0.950,
Dec 24 Hogs closed at $72.700, down $1.100
Feb 25 Hogs closed at $75.775, down $0.550,
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