Hogs Close in Red on Thursday

Lean hog futures closed the Thursday session down 22 to 77 cents for the nearby contracts. The CME Lean Hog Index for the 27th was $1.20 lower at $76.27. USDA’s National Average Base Hog price for Thursday afternoon was $61.70, down 31 cents. The National Pork Carcass Cutout value was $87.57 in the PM report, $3.05 higher. Hams led the way with a $14.24 increase to $97.78 cwt. USDA’s Export Sales report had 28,971 MT of pork bookings on the week ending 10/22. Mexico and Japan were the top buyers, with Chinese business only accounting for 8.8% of the total. Pork exports were 14.5% above the same week last year with 37k MT. Accumulated shipments are 1.558 MMT, up 25% yr/yr, with 581,482 MT (37.3%) to China alone. USDA estimates the week’s FI hog slaughter at 1.956 million head through Thursday. That is 7,000 head more wk/wk and 5,000 more yr/yr.

Dec 20 Hogs closed at $65.625, down $0.750,

Feb 21 Hogs closed at $65.600, down $0.600

Apr 21 Hogs closed at $68.325, down $0.425

--- provided by Brugler Marketing & Management




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