Hogs Mixed with Triple Digit Losses

Lean hog futures are currently mixed, with Dec futures making 37 cent gains as opposed to Feb and April contracts which are triple digits lower at midday. The 11/13 CME Lean Hog Index was 5 cents lower at $59.50. The Friday morning pork carcass cutout value was $3.08 higher. The primal cuts were mostly higher with belly showing an $11.47 increase. The national average base hog price 63 cents for Friday, shown at $42.82. China lifted their ban on U.S. poultry imports, imposed a couple years ago due to avian flu concerns. Anything that removes substitutes from the US market should be price supportive in the US over time. The USDA estimated weekly FI hog slaughter as of 11/14 was 1.916 million head, 49,000 head slower than last week’s pace.

DEC 19 Hogs are at $63.125, up $0.375,

FEB 19 Hogs are at $71.950, down $1.425

APR 20 Hogs are at $78.525, down $1.775

--provided by Brugler Marketing & Management

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