Lean Hogs Futures Market News and Commentary
Lean hog futures follow yesterday’s triple digit sell off with mixed movements. Feb futures are 45 cents higher so far, but the spread between futures tightened with drops in April and May futures. The CME Lean Hog Index got a 72 cent hike on 01/15 to $60.15. Pork bookings from the week ending 01/09 were listed at 38,671 MT. China accounted for 2,289 MT of the bookings, and China was the destination for 38.62% of the shipments. USDA’s Pork Carcass Cutout was $2.82 lower this morning, putting it at $72.63 cwt. bellies were down $10.16 to $92.49 cwt. USDA’s National Average Base Hog price was another 15 cents higher, to $51.37 this morning. Estimated FI hog slaughter through Thursday totaled 1.990 million head. That was 3,000 head more than last week’s pace.
Feb 20 Hogs are at $67.325, up $0.450,
Apr 20 Hogs are at $73.650, down $0.125
May 20 Hogs are at $80.400, down $0.325
---provided by Brugler Marketing & Management