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Lean hog futures were mixed on Wednesday, with front months down 75 cents to $3.42. USDA's national base hog price fell $1.38 to $56.56, the CME Lean Hog Index slipped to $69.36, and the pork cutout fell 64 cents to $72.46.
Lower hog and pork cutout values signal softer packer margins and weaker demand for hog feed, a mildly bearish signal for feed ingredients.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Front-month hogs fell further on Oct 28 as the national base hog price, the CME index and the cutout all declined again.