Nearby Hog Futures are up Triple Digits at Midday

Lean hog futures are up by as much as $1.72 during the morning session, save for the expiring Dec futures, which are closing the gap on the cash price. The CME Lean Hog Index for 12/11 was up 26 cents to $59.72. From yesterday’s export sales report, China purchased 5,605 MT of pork through the week ending 12/05. That was a 3,817 MT increase over bookings from the PRC during the same week in 2018. The country accounted for 36.57% of weekly shipments, with 13,908 MT of pork through the week. USDA’s pork carcass cutout value was up by $2.72 this morning, with most of the primals also up, minus the ham and butt. USDA’s national average base hog price for 12/13 was at $48.18, up $0.37. 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.

Dec 19 Hogs are at $60.350, down $0.650,

Feb 20 Hogs are at $69.650, up $1.000

Apr 20 Hogs are at $76.350, up $1.725

---provided by Brugler Marketing & Management

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