Lean hog futures fell to weakness on Thursday, with contracts down $2.55 to $2.70. Open interest data from Thursday showed new short interest, rising 3,058 contracts. USDA’s national base hog price from Thursday afternoon was reported at $77.86, down 92 cents from the day prior. The CME Lean Hog Index was down another 4 cents on November 11 at $89.13.
The USDA reported 47,386 MT of pork sold in the week of 9/25, a 14 week high is sales to that point.
USDA’s pork carcass cutout value from the Thursday AM report was down another $0.88 to $95.26 per cwt. The belly was the only primal reported higher. USDA estimated federally inspected hog slaughter for Thursday at 494,000 head, taking the weekly total to 1.942 million head. That is 4,000 head below last week but 24,362 head above the same week last year.
Dec 25 Hogs closed at $78.075, down $2.550,
Feb 26 Hogs closed at $78.850, down $2.675
Apr 26 Hogs closed at $82.850, down $2.700,
