Lean hog futures rallied back in the afternoon, but not enough to erase losses. Futures finished Wednesday down by as much as $2.50 in nearby contracts. Of the 465.0 Million lbs of September pork exports in the Census data, 14.53% went to China. China has received 539.806 million lbs of U.S. pork already this year, which is 37.84% higher than 2018’s entire yearly total, with 3 months to add more. The Nov. 4 CME Lean Hog Index was lower by 52 cents, at $60.36. Wednesday’s pork carcass cutout value from USDA gained back $1.44, since being lower at midday. Ribs lost $2.17 on the day, but the other primal cuts were higher. The national average base hog price was 45.15 at the end of Wednesday’s session, after falling another $0.80. Wednesday’s week to date USDA estimated Hog slaughter was 1.474 million head, outpacing last week by 19,000 head.
--provided by Brugler Marketing & Management