Lean Hogs Futures Market News and Commentary
The front month lean hog futures are in the black at midday, with Oct futures gaining 92 cents so far. The ’21 expiry month contracts are 35 to 75 cents in the red. The July 31 CME Lean Hog index was $53.11, down by 41 cents. USDA’s National Average Morning Base Hog price August 04 was $39.93, down by 37 cents. For the month of July, Brazil reportedly shipped 90,200 MT of pork, that was up 46% yr/yr. USDA’s National Pork Carcass Cutout value was 6 cents lower in the AM report to $66.72. The primals were mixed and mostly firm, save for picnics and bellies which were each down by more than $4. USDA’s estimate for Monday’s hog slaughter is 425,000 head. Last Monday’s kill was 455,000 head.
Aug 20 Hogs are at $50.075, up $0.200,
Oct 20 Hogs are at $49.325, up $0.925
Dec 20 Hogs are at $50.500, up $0.425
--- provided by Brugler Marketing & Management