On Wednesday, lean hog futures saw midday gains ranging from 50 to 95 cents. The national average base hog price was not reported due to light trading volume, with the 5-day rolling average at $77.57, down 14 cents from the previous day. The CME Lean Hog Index was $85.56 on September 9, which is an 18-cent decrease from the prior day.
The USDA reported a decrease in the FOB plant pork cutout value, which fell by $1.52 to $93.28 per cwt. Among the primals, the rib and loin prices dropped significantly, by $6.64 and $6.21 respectively. Additionally, USDA estimated the federal inspected (FI) hog slaughter at 484,000 head, surpassing the previous non-holiday week and increasing by 23,014 head compared to the same week last year.
Key futures prices for October 24 hogs stood at $79.475 (up $0.925), December 24 hogs at $72.100 (up $0.950), and February 25 hogs at $75.550 (up $0.500).
