Lean hog futures are trading with mixed action so far on Thursday, with October up 20 cents and other contracts slightly lower. The national average base hog price was reported at $76.72 on Thursday morning, down 53 cents 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 $1.97 higher in the Thursday AM report at $94.88 per cwt. The picnic and ham were the only primals reported lower, with the other 4 up in a range from $3.09 to $5.67. USDA estimated FI hog slaughter at 483,000 head for Wednesday, with the weekly total at 1.453 million head. That is well above the previous non-holiday week and 28,883 head larger than the same week last year.
Oct 24 Hogs are at $79.950, up $0.200,
Dec 24 Hogs are at $72.250, down $0.050
Feb 25 Hogs is at $75.675, down $0.150,
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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