Lean hog futures were down 35 cents to $1 on Tuesday. October, which expires on Wednesday, was steady. Open interest was up 2,482 contracts on Tuesday. USDA’s national base hog price was reported at $70.26 on Tuesday afternoon, down 76 cents from the day prior. The CME Lean Hog Index was down another $1.10 on October 9 at $76.51.
USDA’s pork carcass cutout value was down $2.29 in the Tuesday PM report, at $80.68. The rib and belly were the only primals reported higher. Federally inspected hog slaughter for Tuesday was estimated at 496,000 head, with the weekly total at 981,000 head after a revision for Monday. That was 6,000 head below last week and 8,602 head larger than the same week last year.
