Lean Hogs Higher Heading Into Expiration

Lean hog futures finished Thursday’s session in the black, futures gained $0.50 to $1.00 with Dec futures gaining 32 one day ahead of expiration. The 12/10 CME Lean Hog Index was at $59.46, after a 99-cent leap. Weekly pork export sales totaled 44,728 MT. That was a 53.2% increase over last week’s USDA net sales, and 33.8% higher than total export bookings through the same week last year. USDA’s pork carcass cutout value was $1.53 lower this afternoon; picnic shoulder cuts were the only primals that were higher on the day. USDA’s national average base hog price for 12/12 was down by $0.11 at $47.94. USDA estimated FI WTD hog slaughter at 1.963 million head through Thursday, which is 19,000 head behind last week’s pace. They lowered Wednesday’s estimate by 6,000 head.

---provided by Brugler Marketing & Management




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