Lean Hog Futures mostly Higher so far

Lean hog futures are steady to 42 cents higher for Friday’s midday. The 12/04 CME Lean Hog Index was at 58.34, after an increase of 14 cents. China has issued more tariff adjustments for American pork. This has been reported as a streamline process regarding past purchase to lower unloading costs. The announcement left out hard numbers. October Exports to China from CENSUS were shown at 94.190 million lbs. The average October shipments to the country since 2010 were 37.266 mlbs. Every month since March has been above the average, and July and August monthly exports were all time records for the respected month. Total yearly shipments to China, through October, are 633.997 mlbs, with two months left to add. The all time record for yearly pork exports to China came in 2011 with 667.746 million lbs, but through October, 2019 is the all time high. This morning’s pork carcass cutout value was up another $1.06 and all but loin primal cuts were higher. USDA’s national average base hog price for 12/05 was $0.06 higher to $46.73. USDA’s weekly total estimate for FI hog slaughter through Thursday was 1.982 million head.

DEC 19 Hogs closed at $61.575, unch,

FEB 19 Hogs closed at $67.900, up $0.325

APR 20 Hogs closed at $73.925, up $0.425

---provided by Brugler Marketing & Management




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