Lean Hogs Market News and Commentary

Lean Hog futures posted $1.25 to $2.025 gains in most 2019 contracts. April was up 32.5 cents as it converges with the Index at expiration today. The CME Lean Hog Index was up another 40 cents from the previous day @ $79.29 on April 9. The USDA pork carcass cutout value was 49 cents higher at $84.43 per cwt in the afternoon report. The national base hog carcass value was down $1.38 in the PM report, at an average weighted price of $74.82. Estimated FI hog slaughter was 1.855 million head through Thursday, down 44,000 from the previous week but still 26,000 above last year. All pork export sales during the week of April 4 were 90,683 MTs, the largest weekly pork sales total since 2014. Most of the sales were to China despite the tariffs.

--provided by Brugler Marketing & Management

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