Lean hog futures fell by $1.10 to $2.60 in the front months into the Wednesday close, with back months 7 to 92 cents lower. USDA’s national base hog prices from the Wednesday PM report was at $104.67, down $2.32 from the day prior. The CME Lean Hog Index was down another 8 cents on September 22 at $104.90.
NASS will release their quarterly Hogs & Pigs report on Thursday, with September 1 inventory seen up 0.3% from last year. Hogs kept for breeding are expected to be down 0.5%, with market hog inventory seen up 0.3%.
