Lean hog prices fluctuated on Thursday, October 24, with nearby contracts decreasing by 35 to 50 cents while others rose by 17 to 42 cents. The national average base hog price dropped to $73.99, a decrease of $1.92 from the previous day. The CME Lean Hog Index for October was recorded at $84.45, up 32 cents.
The Export Sales report indicated 43,355 MT of pork bookings for the week ending September 26, marking an 18-week high. Notably, Mexico accounted for over half of the bookings at 24,000 MT, while China secured 7,900 MT. Export shipments totaled 25,887 MT, the lowest in three weeks.
USDA reported the FOB plant pork cutout value at $94.80 per cwt, a 22-cent increase. The estimated Thursday hog slaughter was 481,000 head, contributing to a weekly total of 1.938 million head, which is an increase of 5,000 head from the prior week and 1,889 head more than the same week last year.
