Lean Hogs Market Commentary

Lean Hog futures settled Wednesday with most contracts 65 cents to $1.50 higher and a few front months marginally mixed. This was a dead cat bounce after the limit down drop in December futures on Monday. The CME Lean Hog Index was down 8 cents from the previous day @ $64.00 on November 5. The USDA pork carcass cutout value was down $1.33 @ $72.75 in the Wednesday afternoon report. The national base hog carcass value was 44 cents lower this afternoon, with a weighted average of 55.28. FI hog slaughter was estimated @ 479,000 head by the USDA on Wednesday (likely a record) and bringing the weekly total to 1.432 million head. That is up 24,000 from the previous week and 48,000 higher than the same week in 2017.

Dec 18 Hogs closed at $55.525, up $1.425,

Feb 19 Hogs closed at $61.225, down $0.175

Apr 19 Hogs closed at $67.425, up $0.125

--provided by Brugler Marketing & Management

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