Lean Hogs

Lean hog futures are steady to 15 cents lower on Thursday. The CME Lean Hog Index on February 6 was at $75.38, up 54 cents from the previous day. The USDA pork carcass cutout value was 33 cents lower at $77.01 in the Thursday AM report. The national base hog weighted average price was down 48 cents at $70.37 Thursday morning. 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. Pork export sales were tallied at just 12,670 MT for the week of 2/1. That was down 53.7% from last week and 7.2% behind the same week last year. First quarter pork production was the only of the 2018 quarters to be adjusted this morning by the USDA, down 75 million pounds.

Feb 18 Hogs are at $73.725, down $0.125,

Apr 18 Hogs are at $69.075, down $0.150

May 18 Hogs are at $75.100, unch,

Market Commentary provided by:

Brugler Marketing & Management LLC
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