Lean hog futures are trading higher on Thursday as contracts are taking back the Wednesday weakness, with contracts 95 cents to $1.20. USDA’s national base hog prices from the Thursday AM report was at $104.02, down 70 cents from the day prior. The CME Lean Hog Index was back up a dime on September 23 at $105.00.
NASS will release their quarterly Hogs & Pigs report this afternoon, with September 1 inventory seen up 0.3% from last year. Hogs kept for breeding are expected to be down 0.5%, with market hog inventory seen up 0.3%.
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USDA reported 29,402 MT of pork sold in the week ending on 9/18, a 4-week high. Shipments of pork were tallied at 29,297 MT, back down from last week.
USDA’s FOB plant pork cutout report from Thursday morning was back up 78 cents at $112.41 per cwt. The butt and belly primals were the only reported higher. USDA estimated federally inspected hog slaughter on Wednesday at 489,000 head, taking the weekly total to 1.454 million head. That was down 10,000 head from last week and 67 head below the same week last year.
Oct 25 Hogs are at $100.400, up $0.975,
Dec 25 Hogs are at $89.325, up $1.200
Feb 26 Hogs is at $90.575, up $0.950,
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. For more information please view the Barchart Disclosure Policy here.
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