Lean Hogs

Lean hog futures finished the Wednesday session with most contracts 32.5 cents to $2.20 lower. The CME Lean Hog Index on February 5 was at $74.84, up 36 cents from the previous day. The USDA pork carcass cutout value was 89 cents lower at $77.34 in the Wednesday PM report. The ham was $2.34 in the red, with the belly the only other cut lower, down $4.40. The national base hog weighted average price was down $1.45 at $71.15 this afternoon. The USDA estimated FI hog slaughter at 1,393,000 through Wednesday. That is down 3,000 head from the previous week and 72,000 head more than the same time last year. Exports of pork during December totaled 514.317 million pounds, a record for that month but 3.9% lower than November. During 2017, the US shipped 5.632 billion pounds of pork, up 5.9% from 2016 and an all time yearly record.

Feb 18 Hogs are at $73.850, down $0.900,

Apr 18 Hogs are at $69.225, down $2.200

May 18 Hogs are at $75.100, down $2.000

Market Commentary provided by:

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