Lean hog futures found some strength, despite continued pork weakness, with contracts up 35 to 60 cents at the close. USDA’s national base hog price was reported at $71.70 on Thursday afternoon, up $2.56 from the day prior. The CME Lean Hog Index was down another 19 cents on October 12 at $75.75.
USDA’s pork carcass cutout value was down another $1.90 in the Thursday PM report, at $77.55. The picnic was the only primal reported higher. Federally inspected hog slaughter for Thursday was estimated at 498,000 head, with the weekly total at 1.971 million head after a 5,000 head revisions lower to Wednesday. That is 4,000 head below last week and 1114,504 head larger than the same week last year.
