Lean hog futures experienced declines on Tuesday, with contracts dropping by 60 cents to $1.70. The USDA reported the national base hog price at $84.58, witnessing an increase of $1.76 from the previous day. Additionally, the CME Lean Hog Index fell 73 cents on September 11, settling at $87.21.
In the same report, USDA noted that the pork carcass cutout value decreased by $2.28 to $87.50, with only the ham primal recording an increase. The estimated federally inspected hog slaughter reached 488,000 head on Tuesday, bringing the weekly total to 970,000, which is 3,981 fewer than the same week last year.
On the futures market, October 26 hogs closed at $79.075, down $0.525; December 26 hogs at $69.650, down $1.600; and February 27 hogs at $71.900, down $1.700.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
