The hog market faced declines on Tuesday, with prices dropping between $0.10 and $2.10. The national average base hog price increased to $83.37, reflecting a $5.87 rise from the previous day. The CME Lean Hog Index rose by 86 cents to $89.38 as of November 1.
September pork exports reached a record 549.2 million lbs, a 7.3% increase from last year, although down 2% from August. The USDA reported a decline in the pork cutout value to $101.43 per cwt, down $2.58 from the prior day, influenced by lower prices in the loin, butt, ham, and belly primals. The estimated hog slaughter was 488,000 head for Tuesday, bringing the weekly total to 977,000, representing a slight increase from both the previous week and the same week last year.
Futures for December, February, and April hogs closed at $81.125, $84.500, and $88.100 respectively, showing declines of $2.100, $0.825, and $0.500.
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