The lean hogs complex was, like cattle, mixed in trading on firm wholesale meat prices and investors' flight from riskier assets.
August hog futures closed flat at $1.0492 a pound in trading at the Chicago Mercantile Exchange. CME October hog futures dropped 1.52 cents, or 1.7%, to 90.32 cents a pound.
The August contract found support from another record high in the USDA's pork carcass composite value, a measure of wholesale prices. The carcass value on Friday rose 77 cents to $108.87, which marked the eighth record high in nine trading days.
Some traders feel the recent strength in fresh pork prices may be near an end. Supplies of live animals will grow this fall as cooler temperatures make for better hog-raising weather and producers gear up for bigger production schedules at meat packers.
Cash hog prices were reported steady to lower as pork processors were bidding cautiously to begin the week. Concerns about the economy, uncertainty about pork demand following new all-time highs hit in wholesale prices in eight of the past nine days, and expectations for a seasonal expansion in hog supplies to begin in coming weeks also weighed on cash prices.
The terminal markets traded steady to higher with tops from $70 to $75 a hundred pounds on a live basis.