Lean hog futures closed the Thursday session with contracts down a dime to 85 cents on the day. The national average base hog price was reported at $76.00 on Thursday morning, down $1.25 from the previous afternoon. The CME Lean Hog Index was $85.46 on September 10, down a dime from the day prior.
Export Sales data tallied pork bookings totaling 29,738 MT in the week of 9/5, improving from the week prior. Shipments were back down to 25,722 MT, the lowest for a full week in the calendar year.
Today’s WASDE update showed a 5 million lb increase to pork production for 2024 from the August projection at 28.053 million lbs, with quarter 3 up 25 million lbs and Q4 down 20. For 2026, USDA projects 28.505 billion lbs in pork production, down 45 million from last month.
USDA’s FOB plant pork cutout value was $1.27 higher in the Thursday PM report at $94.18 per cwt. The picnic and ham were the only primals reported lower, with the other 4 up in a range from $1.38 to $5.08. USDA estimated FI hog slaughter at 483,000 head for Thursday, with the weekly total at 1.36 million head. That is well above the previous non-holiday week and 27,707 head larger than the same week last year.
Oct 24 Hogs closed at $78.900, down $0.850,
Dec 24 Hogs closed at $71.550, down $0.750
Feb 25 Hogs closed at $75.200, down $0.625,
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