On Monday, lean hog futures gained between 70 cents and $1.47, with the national average base hog price reported at $76.96, an increase of 96 cents from the previous day. The CME Lean Hog Index for September 12 was recorded at $84.87, down 48 cents from the prior day.
The USDA reported a slight increase in the FOB plant pork cutout value, which rose by 32 cents to $94.22 per cwt. The estimated federal inspection (FI) hog slaughter stood at 486,000 head for Monday, matching the previous week but down by 1,021 head compared to the same day last year.
Contract closures on October 24 showed Hogs at $79.925 (up $1.475), December 24 Hogs at $72.175 (up $0.875), and February 25 Hogs at $75.675 (up $0.700).
