Lean Hog Futures End Day with Slight Variations

1 min read | September 12, 2024 05:26 AM AEST | By Team Kalkine Media

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Lean Hog Futures End Day with Slight Variations — Image source: Shutterstock

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Lean hog futures showed minimal changes, closing within 25 cents of unchanged.
National average base hog price decreased to $78.34, while the CME Lean Hog Index fell to $85.74.
USDA’s FOB plant pork cutout value dropped to $94.80, with a significant decline in ham prices.

Lean hog futures ended the day with only slight variations, closing within 25 cents of unchanged on Tuesday. The national average base hog price settled at $78.34 in the afternoon, marking a decrease of 14 cents from the previous day. The CME Lean Hog Index, reported on September 6, fell to $85.74, down by 50 cents from the prior day.

In the Tuesday PM report, the USDA’s FOB plant pork cutout value was recorded at $94.80 per cwt, reflecting a decrease of 92 cents. Among the pork primals, the rib, butt, and loin saw increases, while the ham experienced the most notable decline, dropping by $2.75. Additionally, the USDA estimated the weekly hog slaughter at 484,000 head, which is significantly higher compared to the previous non-holiday week and up by 23,014 head from the same week last year.

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