Nearby Hog Futures Finish Friday Higher by Triple Digits

Lean hog futures were higher on Friday, with gains of 60 cents to $1.87 in the nearby contracts, while Feb gained $1.950 cents on the week. The CME Lean Hog Index for 12/11 was up 26 cents to $59.72. Managed money was shown Net short hog futures in the weekly update from the CFTC. As of Tuesday, spec traders were 8,220 contracts short with a wk/wk growth of 4,446 contracts. USDA’s pork carcass cutout value was up by 22 cents on Friday afternoon, primal cuts were mixed with the biggest moves coming from Hams (-3.45) and Loins (+2.95). Friday the 13th’s national average base hog price was at $47.94, up $0.13. USDA estimated FI hog slaughter through Saturday to be 2.763 million head, which is 36,000 head behind last week’s record pace, but puts the YTD estimate at 123.431 million head.

Feb 20 Hogs closed at $69.250, up $0.600,

Apr 20 Hogs closed at $76.075, up $1.450

May 20 Hogs closed at $82.700, up $1.875

---provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.