Lean Hogs Futures Market News and Commentary
Lean hog futures are trading 15 to 60 cents in the black so far, with August futures trading near $53.50. They expire on Friday. The Lean Hog Index from CME was $53.82 for August 11, which was a 3 cent increase. USDA’s National Average Base Hog price for Thursday was withheld due to confidentiality rules; the PM quote was $37.69. The Weekly Export Sales report had pork bookings at a low 10,481 MT for the week ending August 6. That was about half of the same week yr/yr, and the lowest since COVID-19 afflicted sales in May. Shipments from the report were 34,900 MT, which was 1.5% higher wk/wk and up 32% on the year. USDA’s National Pork Carcass Cutout value was up $4.01 to $76.45. Hams were the largest mover, up $10.47 to $75.25 cwt. USDA estimated 1.396 million hogs slaughtered WTD through Wednesday. That trails the same week last year by 19k head.
Oct 20 Hogs are at $52.100, up $0.500,
Dec 20 Hogs are at $54.000, up $0.600
Feb 21 Hogs are at... Read more