Lean Hogs are Lower at Midday

Lean hog futures were mixed on Wednesday, but decided to go southward with Thursday trading. The CME Lean Hog Index for 12/03 was $0.82 above yesterday @ $58.20. The USDA pork carcass cutout value up another $2.32 this morning, primals were mixed with each moving triple digits; bellies were 13.46 higher at $111.11. USDA’s national average base hog price for 12/05 was higher again, up by 75 cents to $46.43. USDA’s latest update for weekly pork export sales showed that 29,196 MT for the week ending 11/28. Shipments through the same week were at 33,114 MT – a 21.8% reduction wk/wk, but 18.8% higher than the same week last year. The accumulated export shipments, according to the same USDA report, are at 1.448MMT which is 37% above last year. In house conversions from Census data for pork shipments for the month of October are 520.9 million lbs, a record for the month. USDA’s weekly total estimate for FI hog slaughter through Wednesday was 1.486 million head, 21,000 head above last week’s pace.

DEC 19 Hogs closed at $61.725, down $0.150,

FEB 19 Hogs closed at $68.225, down $0.200

APR 20 Hogs closed at $74.150, down $0.600

---provided by Brugler Marketing & Management

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