So far for the shorter Friday session, the lean hog futures market is 27 to 45 cents higher. The USDA National Average Base Hog Price was down 84 cents to $86.61. The CME Lean Hog Index for 11/18 was $86.97, down by 80 cents but still premium to the futures.Â
Weekly FAS data showed 45,768 MT of pork was sold for export during the week that ended 11/17. That was led by 18k MT sold to Mexico. 33,201 MT were shipped during the week, again with Mexico as the top destination. USDA had accumulated pork exports at 1.313 MMT through 11/17 – an 18% lag from last year’s pace.Â
Pork cutout futures are trading mixed with less than $1 either direction. The USDA’s Pork Carcass Cutout was $89.36 in the PM update, down by $1.94. USDA estimated FI hog slaughter at 1.437m head for the week through Wednesday. That is down 31k head wk/wk, but still 7k head above the same week last year’s pace.Â
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Dec 22 Hogs  are at $84.125, up $0.175,
Feb 23 Hogs  are at $89.375, up $0.575
Dec 22 Pork Cutout  is at $93.000, down $0.200,
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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