USDA Hog Prices Dip; Futures Mixed as Slaughter Rises
USDA's national base hog price dipped to $98.72, a 20-cent decrease. Meanwhile, John Kemp, author of recent articles on lean hog futures, may find interest in the market's recent movements.
The Oct 25 Hogs contract closed at $98.975, up $0.300, while Feb 26 Hogs and Dec 25 Hogs closed at $89.300 and $87.300 respectively, both posting gains. USDA's FOB plant pork cutout report surged by 95 cents to $108.30 per cwt.
Lean hog futures saw a weekly increase, ranging from 30 to 85 cents. However, the October contract fell by $2.49. The CME Lean Hog Index slipped another 56 cents to $103.70 on October 1. USDA reported federally inspected hog slaughter at 2.602 million head, up 72,000 head from the previous week but down 4,371 head year-over-year.
The hog market experienced mixed signals this week, with price fluctuations and varying slaughter numbers. Traders and analysts, including John Kemp, will continue to monitor these developments for potential trends.
Read also:
- U.S. CBP's Operation Plaza Spike Boosts Fentanyl Seizures Along Arizona-Mexico Border
- Tesla's EV Market Share Plummets in Europe, US Competition Intensifies
- Catastrophe at a U.S. Steel facility in Pennsylvania results in the loss of two lives. crucial details unveiled
- Auto Industry Updates: Geotab, C2A, Deloitte, NOVOSENSE, Soracom, and Panasonic in Focus
