Chicago Mercantile Exchange (CME) lean hog futures dropped to their lowest level in six weeks on Monday on technical selling and ample US supplies, Reuters reported, citing brokers.
The market has pulled back after rising on Aug. 1 to its highest price since March.
"Hogs are doing what they do - trying to find that near-term bottom that tells us that this correction is over," a broker said.
Most-active October lean hog futures sank 2.175 cents to end at 79.150 cents per pound and touched their lowest price since July 3.
The US Department of Agriculture (USDA) quoted the wholesale pork carcass cutout at $109.08 per cwt, down $1. Cutout values for pork bellies slipped $2.56 to $198.39 per cwt.
Pork processors slaughtered an estimated 461,515 hogs, up from 411,000 hogs a week ago and 444,000 hogs a year earlier, the USDA said in a separate report.
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