Lean hogs closed out the session with contracts anywhere from 12 cents lower to 52 cents higher across the board. The national average base hog price was reported at $76.68 on Monday afternoon, up $1.57 from the previous day. The CME Lean Hog Index was $84.03 on September 26, back down 4 cents from the day prior.
Several ports along the East Coast have been shut down due to a strike by workers halting container traffic, likely impacting some pork shipments in the coming days.
China released updated data on their hog herd, showing August 31 sow inventory at 40.4 million head. A 4.8% decline from last year.
USDA’s FOB plant pork cutout value up 9 cents in the Monday PM report at $95.84 per cwt. The picnic, ham, and butt were the only primals reported lower, with the other primals up by a range of 12 cents to $2.44. USDA estimated FI hog slaughter for Monday at 485,000 head. That is up 6,000 head from the previous Monday and 2,294 head below the same Monday last year.
Oct 24 Hogs closed at $82.250, up $0.200,
Dec 24 Hogs closed at $73.275, down $0.100
Feb 25 Hogs closed at $77.375, down $0.125,
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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