Lean Hogs Futures Market News and Commentary
Dec hog futures held on to a $1.62 gain at the closing bell, but the other front months were triple digits in the red on Monday. The CME Fresh Bacon Index was $214.50 for the week ending 10/16. That was up $14.03 cwt. and is the highest in October on record (going back to 2013). The CME Lean Hog Index was back down by 26 cents to $78.23 on 10/15. USDA’s National Average Base Hog price was $60.57 in the PM update, that was down $1.33. USDA’s National Pork Carcass Cutout value was back down by $1.09 in the PM report at $98.10. Loins were the weakest, down by $5.95 in the PM report to $85.12 cwt. USDA estimated the Monday kill at 488,000 head. Which is 10k above LW, but down 2,000 from the same week last year.
Dec 20 Hogs closed at $71.425, up $1.625,
Feb 21 Hogs closed at $70.850, down $0.100
Apr 21 Hogs closed at $72.325, down $1.325
--- provided by Brugler Marketing & Management