Lean Hogs Market Commentary

Lean Hog futures posted 50 cent to $1.40 gains in most contracts on Thursday, with nearby Dec up 7.5 cents. The CME Lean Hog Index was down another 73 cents from the previous day @ $60.47 on November 12. The USDA pork carcass cutout value was down 35 cents on Thursday afternoon at $68.67. The belly was up $3.95, with the picnic down $8.49 (-16.92%!). The national base cash hog value was up 30 cents yesterday afternoon with a weighted average of $51.65. Thursday’s FI hog slaughter was estimated @ 476,000 head, bringing the weekly total to 1.873 million head. That was 25,000 fewer than a week prior and up 8,000 from the same week in 2017.

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