Lean Hogs Futures Market News and Commentary
Lean hog futures gained triple digits in the 2020 contracts. Deferred contracts through April were 42 to 77 cents higher, with May ’21 closing UNCH at $70.90. The week’s Fresh Bacon index from CME was $5.78 higher to $134.40 cwt. The CME Lean Hog index was $52.44 on Aug 6, after dropping 34 cents. USDA’s National Average Base Hog price for Monday afternoon was up 24 cents to $38.43. USDA’s National Pork Carcass Cutout value was $1.86 lower on Monday, at $70.07. USDA’s estimate Monday’s FI hog slaughter is 482,000 head. That starts the week 62k head above last Monday and 26k head above the same day last year.
Aug 20 Hogs closed at $53.125, up $2.125,
Oct 20 Hogs closed at $53.825, up $2.850
Dec 20 Hogs closed at $54.700, up $1.775
--- provided by Brugler Marketing & Management