Lean Hogs Retreat With Broad Markets

Lean hog futures closed with losses of $1.15 to $1.85. The 10/26 CME Lean Hog Index fell back another 70 cents to $77.47. USDA’s National Average Base Hog price was $61.76 in the PM update, down by 80 cents. The National Pork Carcass Cutout value fell by $4.13 cwt. in the PM update, @ $84.52. Hams and Picnics were a little stronger, but the other primals fell significantly – led by a $22.31 cwt. drop in bellies. USDA estimates the week’s FI hog slaughter at 1.471 million head through Wednesday. That compares to 1.457 million head last week and 1.459 million from the same week last year.

--- provided by Brugler Marketing & Management

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