Lean hog futures fell by 15 to 67 cents as of Wednesday, with the October contract up 60 points. The USDA reported a national base hog price of $79.01 for Thursday, declining 32 cents from the previous day. Additionally, the CME Lean Hog Index decreased 45 cents to $82.47 on September 22. Open interest increased by 2,122 contracts overall.
In exports, 35,323 MT of pork were sold for future shipment in the week of September 17, with actual exports reaching an 8-week high of 32,092 MT. USDA plans to release its quarterly Hogs & Pigs report today, predicting a 0.8% decrease in total hog inventory as of September 1 compared to last year.
USDA certified a pork carcass cutout value increase of 18 cents in the morning report, reaching $87.00, while hog slaughter for Wednesday was estimated at 486,000 head—25,000 below last week and 16,080 below the same week last year.
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