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Lean Hogs Apr '19 (HEJ19)

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Lean Hogs Futures Market News and Commentary

Lean Hogs Market News and Commentary

Lean Hog futures were mixed on Friday, with front months 32.5 to 50 cents lower and back months higher. April was down 6.85% on the week. The CME Lean Hog Index was down 7 cents from the previous day @ $54.06 on February 20. The USDA pork carcass cutout value was down $2.22 on Friday afternoon at an average weighted price of $59.01. The rib was the only primal reported higher, with the belly down $9.21. The national base cash hog carcass value was up 42 cents in the PM report, with a weighted average of $46.76. USDA estimated weekly FI hog slaughter at 2.512 million head through Saturday. That was down 2,000 head from the previous week but well above the same week last year. Accumulated pork export sales for the weeks of 1/10-2/14 were 122,900 MT, averaging 20,483 MT/week. China was both buying and shipping. Pork stocks in the freezer at the end of December were reported at 505.287 million pounds this afternoon. That was slightly lower than the previous month but up 3.11% from last year. China’s Ag ministry reported January sow numbers were down 15% from last year, with total inventory numbers down 13%.Apr 19 Hogs closed at $55.450, down $0.500,May 19 Hogs closed at $65.475, down $0.325Jun 19 Hogs closed at $75.900, up $0.225--provided by Brugler Marketing & Management
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