Hog market faces the Friday session before heading into the weekend. Lean hog futures held onto minimal gains in the December contract on Thursday, while the other nearby contracts dropped by 2 to 20 cents. The USDA National Average Base Hog Price was $3.36 weaker in the Thursday PM report to $86.12. The CME Lean Hog Index was 46 cents lower to $93.29 on 11/1. Â
Census data had 513m lbs of pork shipments during September. That was up 0.1% yr/yr as the 2nd most for the month on record. YTD beef shipments reached 4.66b lbs through Sep.Â
Weekly Export Sales were a 40-wk high of 47,938 MT. Mexico and China were the top buyers each with over 10k MT – Japan also booked 9.3k MT. Accumulated pork commitments were 1.421 MMT as of 10/27, a 24% reduction yr/yr, but still the 4th most ever.Â
Pork cutout futures closed in the black, counter to the hogs. Gains were limited however, with 5 to 17 cents. The USDA Pork Cutout Value was $96.36 on Thursday afternoon, up by 13 cents.  USDA estimated FI hog slaughter at 1.945m head for the week through Thursday. That compared to 1.948m head last week and from 1.908m head during the same week last year.Â
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Dec 22 Hogs  closed at $83.375, up $0.075,
Feb 23 Hogs  closed at $87.175, down $0.025
Dec 22 Pork Cutout  closed at $94.000, up $0.150,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.
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