Lean Hogs Closed Thursday with Losses

Lean hog futures finished Thursday with $0.30 to $1.25 drops. The CME Lean Hog Index for 12/03 was $0.82 above yesterday @ $58.20. The USDA pork carcass cutout value was up another $0.36 to $81.36, with primals mostly higher save hams and butts. USDA’s national average base hog price for 12/05 was 78 cents higher at $46.46. USDA’s latest update for weekly pork export sales showed that 29,196 MT for the week ending 11/28. Shipments through the same week were at 33,114 MT – a 21.8% reduction wk/wk, but 18.8% higher than the same week last year. The accumulated export shipments, according to the same USDA report, are at 1.448MMT which is 37% above last year. Using USDA conversions with Census data, pork shipments for the month of October were tallied at 520.9 million lbs, a record for the month. USDA’s weekly total estimate for FI hog slaughter through Wednesday was 1.486 million head, 21,000 head above last week’s pace.

DEC 19 Hogs closed at $61.575, down $0.300,

FEB 19 Hogs closed at $67.575, down $0.850

APR 20 Hogs closed at $73.500, down $1.250

---provided by Brugler Marketing & Management

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