U.S. hog futures have dropped 1%, pressured by plentiful hog marketings that lowered cash hog and retail pork values, according to the latest reports.
Cooler weather resulted in a 1.5-pound increase in average hog weights in Iowa and southern Minnesota, to 262.5 pounds, compared with the previous week. Higher hog weights increase pork tonnage to wholesalers and makes more hogs available to packers.
An estimated 1.249 million hogs have been processed so far during the week of August 22, 11,000 more than the previous week and up 19,000 from the asme time in 2010, according to U.S. Department of Agriculture numbers.
October hogs closed down 1.175 cents, to 87.050, on August 24, and December was down 0.875 cents, to 83.450.