Lean Hog Futures Fight Back
BRUG - Wed Nov 06, 4:57PM CST

Lean hog futures rallied back in the afternoon, but it wasn’t enough to take back early losses, they finish the day down by as much as $2.50 in nearby contracts. Of the 465.0 Million lbs of September pork exports in the Census data, 14.53% went to China. China has received 539.806 million lbs of U.S. pork already this year, which is 37.84% higher than 2018’s entire yearly total, with 3 months to add more. We expect China to double 2018’s pork export total for 2019. China’s state owned COFCO has signed a deal to import $100 million worth of pork from Danish Crown by 2020. The Nov. 4 CME Lean Hog Index was lower by 52 cents, at $60.36. Wednesday’s pork carcass cutout value from USDA gained back $1.44, since being lower at midday. Ribs lost $2.17 on the day, but the other primal cuts were higher. The national average base hog price was 45.15 at the end of Wednesday’s session, after falling another $0.80. Wednesday’s week to date USDA estimated Hog slaughter was 1.474 million head, outpacing last week by 19,000 head.

DEC 19 Hogs closed at $64.775, down $2.500,

FEB 19 Hogs closed at $72.775, down $0.975

APR 20 Hogs closed at $79.375, down $0.600

--provided by Brugler Marketing & Management




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