Lean Hogs Market Commentary

Lean Hog futures are mostly 60 cents to $1.15 lower at midday. 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 $1.21 @ $71.54 in the Thursday morning report. The national base hog carcass value was $1.06 lower this morning, with a weighted average of 54.43. 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. Pork sales for export totaled 21,115 MT in the week of Nov 1, with exports at 25,285 MT. Pork production for 2018 was estimated down 105 million pounds at 26.32 billion on lower fourth quarter production by the USDA this morning. Production for 2019 was down 95 million pounds to 27.715 billion.

Dec 18 Hogs are at $54.850, down $0.675,

Feb 19 Hogs are at $60.100, down $1.125

Apr 19 Hogs are at $66.725, down $0.700

--provided by Brugler Marketing & Management




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