Hogs Trade Both Ways Thursday

At the closing bell lean hog futures were mixed within a quarter of UNCH. October contracts however were up triple digits, rallying with cash prices ahead of expiration on the 14th. The CME Lean Hog Index was $76.54 on 9/29, up another 63 cents. USDA’s National Average Base Hog price was delayed due to packer submission issues, this mornings’ quote was $63.60. The weekly Export Sales report had pork sales at 39,544 MT. That was up 5% on the week and was 28% above the same week last year. Mexico was the top purchaser, with 45% of the total. Total pork commitments to Mexico are 26% of the total; Chinese business accounts for 38% of total commitments YTD. USDA’s National Pork Carcass Cutout value was $4.28 stronger in the PM report to $95.65 cwt. Hams were up $9.88 and bellies were $8.82 higher. USDA estimated the week’s FI hog slaughter at 1.926 million head through Thursday. That is down 2,000 the same week last year.

Oct 20 Hogs closed at $74.150, up $1.350,

Dec 20 Hogs closed at $62.850, down $0.250

Feb 21 Hogs closed at $67.875, down $0.125

--- provided by Brugler Marketing & Management




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