Hogs Face Continued Weakness on Wednesday, with Pork Collapse Continuing

Lean hog futures saw losses of 10 cents to $1.95 on the day, with a couple deferreds up 5 to 12 cents. October expired down a nickel. USDA’s national base hog price was reported at $69.14 on Wednesday afternoon, down $1.12 from the day prior.  The CME Lean Hog Index was down another 57 cents on October 12 at $75.94.

USDA’s pork carcass cutout value was back down $1.23 in the Wednesday PM report, at $79.45. The picnic, rib, and belly, were lower, led by the latter, down $11. Federally inspected hog slaughter for Wednesday was estimated at 497,000 head, with the weekly total at 1.478 million head. That was 4,000 head below last week and 11,730 head larger than the same week last year.

Oct 26 Hogs  closed at $75.550, down $0.050,

Dec 26 Hogs  closed at $66.075, down $1.950

Feb 27 Hogs  closed at $67.850, down $1.750,