In weighted average negotiated prices for barrows and gilts, USDA reported;
- National carcass base was 56 cents lower to $69.47/cwt.
- National live was down 43 cents to $54.73
- Iowa-Minnesota carcass base was 34 cents higher to $71.20
USDA reported carcass cutout values this afternoon fell 31 cents to $88.90/cwt.
Analysts continued to watch rising pig prices in China. “China's National Spot Pig Price continues to rally incredibly quickly,” Stewart-Peterson said. “China pig prices are up over 17% for this month alone.”
“Domestic cash fundamentals are a bit more mixed, with the index drifting lower and carcass cutout values mixed to mostly higher lately,” Stewart-Peterson said. “Oct hogs are trading just above their 10-day moving average resistance level. Oct hogs have tested and failed to break through this for the previous three sessions, so a close above would be supportive.”