On Thursday, lean hog futures saw significant declines, with contracts falling between $2.55 and $2.70. USDA reported the national base hog price at $77.86, down 92 cents from the previous day, while the CME Lean Hog Index decreased by 4 cents to $89.13. Open interest data indicated a rise of 3,058 contracts in new short interest.
The USDA reported pork sales of 47,386 metric tons for the week ending September 25, marking a 14-week high. Additionally, the USDA’s pork carcass cutout value dropped by $0.88 to $95.26 per hundredweight, with only the belly primal reporting an increase. An estimated 494,000 head were federally inspected for slaughter on Thursday, bringing the weekly total to 1.942 million head, which is 4,000 head lower than last week but 24,362 head higher than the same week in the previous year.
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