Lean Hog Rally Continues

Lean hog futures rallied triple digits (October and Dec), and closed a nickel to 77 cents higher in the back months. The CME Lean Hog Index was $77.26 on 10/02, up 45 cents. USDA’s National Average Base Hog price was $0.47 lower on Tuesday afternoon at $64.08. The WCB regional base hog price was $63.77. Census data conversions have pork exports at 527m lbs for August. That is down 5% from July, but an all time record for August. Every month since June ’19 has set or reset it’s respective month’s record. USDA’s National Pork Carcass Cutout value was $92.55 after a $2.45 drop. The primal cuts were mostly higher, but hams dropped $16.54 cwt. to $67.34. USDA estimates Tuesday’s FI hog slaughter at 487,000 head. The week to date running total is 976,000 head, which is up 2k wk/wk and 3k yr/yr. --- provided by Brugler Marketing & Management




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