Lean hog futures experienced a notable uptick as the week came to a close, with prices rising between 30 to 85 cents. However, the October futures saw a decline of $2.49 over the week. In the USDA’s national base hog price report released on Friday afternoon, the price fell by 20 cents from the previous day, settling at $98.72. Additionally, the CME Lean Hog Index reported a decrease of 56 cents on October 1, bringing the index to $103.70.
According to the USDA’s Friday PM report on the FOB plant pork cutout, prices increased by 95 cents, reaching $108.30 per cwt. Notably, the butt and rib primals were the only cuts that reported a decrease. The USDA also estimated that federally inspected hog slaughter reached 2.602 million head, which is 72,000 head higher than the previous week but 4,371 head lower than the same week last year.
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Oct 25 Hogs closed at $98.975, up $0.300.
Dec 25 Hogs closed at $87.300, up $0.625.
Feb 26 Hogs closed at $89.300, up $0.850.
On the date of publication,
Austin Schroeder
did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.
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