Lean hogs

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In weighted average negotiated prices for barrows and gilts, USDA reported;

  • National carcass base rose $1.08 to $71.25/cwt.
  • National live fell 29 cents to $54.90
  • Iowa-Minnesota carcass base rose 73 cents to $72.95

USDA reported carcass cutout values this afternoon fell 67cents at $88.23/cwt.

Hogs “could not get any significant momentum” after hitting a resistance point, Oliver Sloup of Blue Line Futures said. With a lower close, he expects some more selling out of the market.

There is uncertainty for strong export potential with the trade war, and pork values are weakening, The Hightower Report said. Those factors led to a sell off after testing some highs, as the October lean hog contract finished $3.55 off its highs.

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