Hog Collapse Continues to Wednesday

Lean hog futures are posting losses of $1.25 to $1.40 across most contracts, with October down a nickel ahead of expiration. USDA’s national base hog price was reported at $69.05 on Wednesday morning, down $2.31 from the day prior.  The CME Lean Hog Index was down another 57 cents on October 12 at $75.94.

USDA’s pork carcass cutout value was back up 59 cents in the Wednesday AM report, at $81.27. The butt and ham 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.

Oct 26 Hogs  are at $75.550, down $0.050,

Dec 26 Hogs  are at $66.650, down $1.375

Feb 27 Hogs are at $68.250, down $1.350,

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.