Lean Hogs Market Commentary

Lean Hog futures were steady to $1.10 lower in most contracts on Thursday, with nearby Dec up a dime. The CME Lean Hog Index was down 28 cents from the previous day @ $63.72 on November 6. The USDA pork carcass cutout value was down $1.18 @ $71.57 in the Thursday afternoon report. The national base hog carcass value was $1.18 lower this afternoon, with a weighted average of 54.31. FI hog slaughter was estimated 1.898 million head through Thursday by the USDA, with Wednesday’s slaughter revised down to 472,000 head. That is still up 15,000 from the previous week and 52,000 higher than the same week in 2017. Pork sales for export totaled 21,115 MT in the week of Nov 1, with exports at 25,285 MT. USDA Pork production for 2018 was reduced 105 million pounds to 26.32 billion on lower fourth quarter production. Their production estimate for 2019 was down 95 million pounds to 27.715 billion.

Dec 18 Hogs closed at $55.625, up $0.100,

Feb 19 Hogs closed at $60.125, down $1.100

Apr 19 Hogs closed at $66.775, down $0.650

--provided by Brugler Marketing & Management

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