USDA reports the market data each day. The CME averages these four markets to calculate the daily price. The most recent two-day prices are averaged to calculate the Index. Each of the daily prices is referred to as a "Component" of the index.
At about 11:00 AM the final numbers are released for the previous day's kill. At about 12:00 noon EST reports are released for the current day's purchases. At about 3:30 PM EST an up-dated batch of reports are released on the current day's purchases. At about 9:00 the next day the final report is released for the day's purchases. My goal in studying these reports is to gain insight into the direction and magnitude hog prices are moving.
It takes quite a bit of time and the time is spread out over the day.