Lean Hogs Market News and Commentary

Lean Hog futures are mixed at midday, with nearby Feb up 85 cents and other contracts steady to 25 cents lower. The CME Lean Hog Index was up 37 cents from the previous day @ $58.02 on January 15. The USDA pork carcass cutout value was up 90 cents on Thursday morning at an average weighted price of $70.54. The national base cash hog carcass value was not reported this AM due to confidentiality reasons, with a 5-day rolling average of $51.47. FI hog slaughter WTD was estimated at 1.423 million head through Wednesday, which is 140,000 larger than the same week last year. China’s Ag Ministry reported yesterday that their hog herd was down 4.8% in Dec vs. last year, with sow numbers a sharp 8.3% lower. They are encouraging larger producers to re-stock, anticipating a sharp rise in pork prices, but movement limitations are still in effect.

Feb 19 Hogs are at $60.900, up $0.850,

Apr 19 Hogs are at $64.825, down $0.250

May 19 Hogs are at $70.575, down $0.250

--provided by Brugler Marketing & Management




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