Lean hog futures are down 45 to 65 cents at midday. USDA’s national base hog price was $79.19 in the Friday morning report, up 18 cents from the day prior. The CME Lean Hog Index was down another 27 cents on September 23 at $82.20.

USDA’s Hogs & Pigs report showed September 1 inventory of all hogs down 1.51% from a year ago at 74.302 million head. Market hogs were down 1.55% to 68.427 million head, with breeding inventory numbers down 1.03%. The June to August pig crop was down 1.53% at 34.5 million head. Farrowings during that period dropped 2.66%, with intentions for September to November down 1.79%.

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USDA’s pork carcass cutout value was back down 72 cents in the Friday AM report, at $85.89. The rib primal was the only reported higher. Federally inspected hog slaughter for Thursday was estimated at 489,000 head, with the weekly total at 1.922 million head. That was 5,000 head below last week and 11,867 head shy of the same week last year.

Oct 26 Hogs are at $78.575, down $0.625,

Feb 27 Hogs are at $70.400, down $0.450,

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. For more information please view the Barchart Disclosure Policy here.