Lean Hogs Market Commentary

Lean Hog futures posted limit gains in the front months on Friday, with Dec up 7.66% on the week. The CME Lean Hog Index was down another 61 cents from the previous day @ $59.86 on November 14. The USDA pork carcass cutout value was down 49 cents on Friday afternoon at $68.18. The national base cash hog carcass value was 30 cents higher on Friday afternoon at a weighted average of $51.65. USDA’s weekly FI hog slaughter was estimated a record 2.626 million head through Saturday. That was 37,000 larger than a week prior and well above the same week in 2017. Pork muscle cut sales for export totaled 20,521 MT in the week of 11/8, as weekly exports totaled a MY high 26,723. CFTC showed money managers trimming their net long position in lean hog futures and options by 1,467 contracts to 28,048 contracts as of 11/13.

Dec 18 Hogs closed at $60.075, up $3.000,

Feb 19 Hogs closed at $66.750, up $3.000

Apr 19 Hogs closed at $71.750, up $3.000

--provided by Brugler Marketing & Management




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